Meta investors and Meta CEO Mark Zuckerberg settled an $8 billion lawsuit with shareholders on Thursday.<\/p>\n
The investors were seeking $8 billion in damages from Meta in fines and legal costs shelled out by Facebook to resolve users’ privacy breaches. <\/p>\n
Details of the settlement were not immediately available, and a spokesperson for Meta declined to comment on the matter.\u00a0Facebook changed its name to Meta in 2021.<\/p>\n
The case follows a 2019 settlement with the Federal Trade Commission (FTC) following data leaks to Cambridge Analytica<\/a>, a political consulting firm used by President Trump\u2019s campaign team during his first White House bid.\u00a0\u00a0<\/p>\n They alleged that the $5 billion settlement with the FTC six years ago was done to shield Zuckerberg from financial obligations after the data breach. <\/p>\n Eleven defendants were named in the case held before Judge Kathaleen McCormick in the Delaware Court of Chancery.<\/p>\n Peter Thiel, co-founder of Palantir Technologies, and Reed Hastings, co-founder of Netflix, were listed as defendants in the case, according to the BBC<\/a>.<\/p>\n The outlet also reported Jeff Zients, former President Biden’s White House chief of staff and two-year Meta director, was also named in court documents.\u00a0\u00a0<\/p>\n The Associated Press contributed to this report.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" Meta investors and Meta CEO Mark Zuckerberg settled an $8 billion lawsuit with shareholders on Thursday. The investors were seeking $8 billion in damages from Meta in fines and legal<\/p>\n