Mark Zuckerberg, CEO of Meta, agreed to decide on a trial seeking only $ 8 billion, with a group of former and former company directors and officers. Reuters. Zuckerberg and other actually Facebook will pay Meta Shares for the alleged losses due to repeated violations of users’ privacy.
The parties did not disclose the details of the settlement, but one person would assume that the payment was less than $ 8 billion, which the plaintiffs actually sought. Judge Kathalin McCaramak postponed the trial in the same way as it was about to enter his second day and before any major player was forced to take a stand.
Mark Anderson, a billionaire venture investor, who is a defendant at the trial and a meta director, was scheduled for today’s testimony. Zuckerberg and former COO Sheryl Sandberg were ready to take the stand next week. The testimony of former board member Peter Thale was also expected.
The shareholders have sued Zuckerberg, Anderson, Sandberg and others to blame billions of dollars of fines and legal expenses that the company has been forced to pay as part of alleged confidential violations in recent years. For example, the FTC fined Facebook in 2019, after which failed to comply with the 2012 contract to protect user data.
The company’s shareholders wanted 11 defendants to use their personal wealth to compensate the company. The plaintiffs alleged in the case that the defendants failed to monitor the compliance of the FTC and that they deliberately run Facebook as an operation of illegal data harvesting. The defendants denied the allegations, and called them “extreme claims” before they were settled.
All of this leads to the notorious Cambridge Analytica Bamashil, in which a political advisory firm gained access to millions of Facebook users data as part of Donald Trump’s successful 2016 presidential campaign. This led to a fine of FTC, which was the largest released. Cambridge Analytica has closed after that.
Several people had already taken a stand before the two sides reached the settlement. An expert witness for the plaintiffs testified about “space and weaknesses” in Facebook’s privacy policies.
This is only a pending case against the company. There is a huge anti -trust case that once again mess up the FTC against the Meta, and it has been alleged that the company participated in anti -incorporation methods by buying one -time rivals Instagram and WhatsApp. The trial has ended but no decision has been made.
Zuckerberg has been involved in a case alleging that Meta had deliberately used pirate materials to train her Lama AI. After Trump threatened to avenge Zuckerberg during the 2024 elections, the company also paid $ 25 million for legalization with Donald Trump on charges of 2021 Facebook suspension. The current president was temporarily suspended from the platform after a riot in the capital, killing several people.
