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Zuckerberg and Meta investors reach settlement in $8B privacy case
The shareholders' lawsuit alleges Facebook execs intentionally violated an FTC agreement by sharing user data with third-party apps without user consent.
They were seeking $8 billion for the damage the executives caused the company by allowing repeated violations of Facebook users’ privacy in relation to the Cambridge Analytica scandal. The FTC fined Facebook $5 billion in 2019 for failing to comply with a 2012 agreement requiring the company to protect users’ personal data. The trial was expected to feature testimonies from Zuckerberg, Sandberg, Peter Thiel, Marc Andreessen, and Netflix CEO Reed Hastings.
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