Summary
A settlement was reached in a lawsuit against Meta CEO Mark Zuckerberg and other leaders over the Cambridge Analytica privacy scandal. Investors had claimed Meta leaders did not properly inform users about how their information would be used. Details of the settlement were not disclosed in court.
Key Facts
- A class action lawsuit alleged that Meta did not tell Facebook users about data misuse by Cambridge Analytica.
- Cambridge Analytica was a firm that worked with Donald Trump's 2016 presidential campaign.
- The lawsuit sought billions in refunds for fines and legal expenses.
- A settlement was announced in a Delaware court, but details were not given.
- Facebook previously agreed to pay a $5.1 billion fine to the Federal Trade Commission (FTC).
- Investors wanted company leaders to reimburse an estimated $8 billion for the FTC fine and legal costs.
- Zuckerberg and former COO Sheryl Sandberg were expected to testify.
- Former board member Jeffrey Zients testified on the first day of the trial.
