Thu, 17 Jul 2025

Thu, 17 Jul 2025 Meta investors settle $8bn lawsuit with Zuckerberg over Facebook privacy

Shareholders accused Meta leaders of damaging the company by allowing repeat violations of Facebook users' privacy.
Meta has agreed to settle a lawsuit with shareholders over alleged privacy violations by Facebook. The settlement terms are not disclosed but the shareholders had sought $8 billion in damages. A Delaware court was set to hear the case after two days of trial. Meta's parent company was accused of mishandling user data and allowing repeated privacy breaches, including the Cambridge Analytica scandal. The shareholders claimed top executives, including Mark Zuckerberg, were responsible for the violations. They also questioned share sales by Meta's top brass. The defendants included former White House chief of staff Jeffrey Zients and Netflix co-founder Reed Hastings. A settlement allows them to avoid testifying under oath. The case has been ongoing since 2018 when Facebook data was accessed by Cambridge Analytica, a firm working for President Donald Trump's election campaign. Meta was not directly named as a defendant but the company has invested billions in privacy reforms since 2019.
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