Meta investors settle $8bn lawsuit with Zuckerberg over Facebook privacy
Meta, the parent company of Facebook, has settled an $8 billion lawsuit with its investors. The lawsuit was filed by shareholders who accused the company's leaders, including CEO Mark Zuckerberg, of damaging the company by repeatedly allowing violations of Facebook users' privacy. The settlement, which is subject to court approval, will resolve the long-running dispute and avoid a potentially lengthy and costly trial. While the details of the settlement have not been disclosed, it is expected to provide some form of compensation to the affected shareholders. The lawsuit was a significant challenge for Meta, as it highlighted the ongoing concerns over the company's handling of user data and privacy issues. The settlement represents an effort by the company to move forward and focus on its future operations, despite the ongoing scrutiny and criticism it has faced over its privacy practices.
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