Summary
Meta and its CEO, Mark Zuckerberg, have reached a settlement with shareholders over a lawsuit related to Facebook's handling of privacy issues. The lawsuit, seeking $8 billion in damages, concerned data breaches linked to the Cambridge Analytica scandal. The exact amount of the settlement has not been disclosed.
Key Facts
- Meta and Mark Zuckerberg settled a lawsuit with shareholders over privacy violations.
- The lawsuit demanded $8 billion for mishandling user data.
- The issue is linked to the Cambridge Analytica scandal, where millions of Facebook users' data was leaked.
- The settlement was revealed before the trial's second day in a Delaware court.
- Meta has not disclosed the settlement amount.
- Shareholders wanted several executives, including Jeffrey Zients and Peter Thiel, to reimburse Meta for fines and legal expenses.
- The Cambridge Analytica scandal involved data used by Donald Trump's 2016 campaign.
- The case involved multiple well-known figures, including Netflix co-founder Reed Hastings.
