Meta Platforms, along with current and former directors, agreed to settle $8 billion in claims over alleged privacy violations. Shareholders sued Mark Zuckerberg and others for costs related to the Cambridge Analytica scandal. The case stemmed from fines and legal fees following the scandal, particularly a $5 billion FTC penalty in 2019 for failing to protect user data. The defendants called the claims extreme and denied wrongdoing. Details of the settlement were not disclosed, and the company did not comment on the matter.
Shareholders of Meta sued Zuckerberg, Andreessen, and other former company officials, based on billions in fines and legal costs incurred after the Cambridge Analytica scandal.
The plaintiffs sought reimbursement for the company from the 11 defendants, who denied the allegations and referred to them as 'extreme claims.'
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