Zuckerberg and Meta Investors Resolve $8 Billion Privacy Lawsuit

Mark Zuckerberg and several former and current executives of Meta have settled a lawsuit filed by a group of shareholders seeking $8 billion in damages. The lawsuit alleged that persistent violations of Facebook users’ privacy, associated with the Cambridge Analytica scandal, harmed the company.

As reported by Reuters, the specific terms of the settlement remain undisclosed.

The lawsuit accused Facebook officials, including Mark Zuckerberg and former COO Sheryl Sandberg, of intentionally breaching a Federal Trade Commission agreement by sharing user data with third-party applications without user consent.

In 2019, the FTC levied a $5 billion fine against Facebook for failing to comply with a 2012 agreement that required safeguarding user personal data.

The upcoming trial was expected to hear testimonies from Zuckerberg, Sandberg, Peter Thiel, Marc Andreessen, and Netflix CEO Reed Hastings.