Meta Platforms' directors and officers, including Mark Zuckerberg and Marc Andreessen, settled shareholder claims seeking $8 billion for alleged privacy violations. The lawsuit arose from claims that company leaders permitted repeated violations of user privacy, resulting in significant legal costs and fines, including a $5 billion FTC penalty in 2019. The settlement terms remain undisclosed, and while it may ease tensions among the parties, it raises concerns about public accountability regarding the leadership's actions regarding user data protection.
A settlement was reached in a Delaware court regarding claims that Meta's directors and officers allowed privacy violations, leading to substantial shareholder losses.
Federal Trade Commission fined Facebook $5 billion in 2019 for failure to protect user data, influencing the shareholders' lawsuits against Meta's leadership.
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