Mark Zuckerberg has agreed to settle a multibillion dollar lawsuit with a group of shareholders over how top executives at Meta handled repeated privacy violations by Facebook.<\/p>\n
The shareholders were seeking $8bn (\u00a36bn) in damages. It is unclear how much they agreed to settle for.<\/p>\n
The settlement was announced on Thursday by a lawyer for the shareholders, just before the trial was about to enter its second day in a Delaware court. Meta declined to comment on the settlement.<\/p>\n
The Meta shareholders had alleged that Mr Zuckerberg’s actions led to the Cambridge Analytica scandal in which the data of millions of Facebook users was leaked and used by a political consulting firm. <\/p>\n
The shareholders had asked the judge to order the 11 defendants named in the case to reimburse Meta for more than $8bn in fines and legal costs, which they say Facebook has had to pay in order to resolve claims of users’ privacy breaches.<\/p>\n
The lawsuit was filed after it was revealed that data from millions of Facebook users was accessed by Cambridge Analytica, a political consulting firm that worked for President Donald Trump’s 2016 election campaign. <\/p>\n
Among the defendants is Jeffrey Zients, who served as Meta director for two years starting in May 2018, and was also former President Joe Biden’s White House chief of staff.<\/p>\n
Other defendants include Peter Thiel, co-founder of Palantir Technologies, and Reed Hastings, co-founder of Netflix. <\/p>\n","protected":false},"excerpt":{"rendered":"Mark Zuckerberg has agreed to settle a multibillion dollar lawsuit with a group of shareholders over how top…\n","protected":false},"author":2,"featured_media":3367,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[43,44,41,39,42,40],"class_list":["post-3366","post","type-post","status-publish","format-standard","has-post-thumbnail","category-headlines","tag-headlines","tag-news","tag-top-news","tag-top-stories","tag-topnews","tag-topstories"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/3366","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=3366"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/3366\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/3367"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=3366"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=3366"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=3366"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}