Just a few days ago, we told you how a man called Sandeep Hoodkasia got a serious problem of privacy on the Meta AI platform and was paid $ 10,000 for his discovery.
Now, the time has come to talk again about meta, privacy and a lot of money: but this money is not in thousands of dollars, but in billions of dollars.
Meta and its top leadership, including CEO Mark Zuckerberg and former COO Sheryl Sandberg, have reached a settlement in a high-level case demanding $ 8 billion losses on Facebook violations on Facebook-what is Cambridge Analytica?
The settlement was announced during a hearing in Delaware on Thursday, just as the trial was about to begin with its second day. The details of the settlement are secret for the moment, and the defense lawyers did not comment, while the judge congratulated the two sides on resolving the matter.
In a case brought by Meta’s shareholders, it was alleged that Zuckerberg, Venture Capitalist Mark Anderson, Sandberg, and other ex -executives have accused the company of failing to stop confidential violations, in which the company regulated billions. The dispute was a $ 5 billion fine, with his own concerned to present the FTC position in 2019. “Extreme” and denied any wrongdoing.
Picture by Meta
It is expected that the trial will testify to prominent figures, including Zuckerberg, Sandburg, Netflix co -founder Red Hastings, and Planner’s co -founder Peter Thale. Zuckerberg was testified on Monday, and Sandburg over the weekend. Sandberg was criticized for deleting important emails, which damaged his defense in court. By settling, they and other oaths refrain from testifying or disclosing information that can harm them.
The lawsuit was actually claimed by the so-called Keralark-the legal fodder says the company’s leaders did not do their job to keep the company out of legal problems. Basically, the shareholders argue that the board did not ignore major warning signs or set up a system to ensure that the company followed the law. It is very difficult to win these matters because you have to prove that the leaders worked in a bad faith, not just mistakes.
The allegations were made from the Cambridge Analytica scandal, which includes a political consulting firm that collected data from millions of Facebook users without their consent. The figures were used to target voters during the 2016 US presidential election and other campaigns. This violation exposed major flaws in Facebook’s data privacy methods and gave rise to global anger. As a result, investigations, major fines – including a fine of $ 5 billion by the Federal Trade Commission – raised awareness about how personal information is handled by social media platforms.
I think it is safe to say that all this has been forgotten so far – I have forgotten regular Facebook users, I mean. This will remember this small stunt in Zak and partner life.
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