Mark Zuckerberg and other Meta bigwigs just agreed to a settlement in $8 billion suit
In a settlement, Meta CEO Mark Zuckerberg and other current and former Meta executives agreed to pay an undisclosed amount to Meta shareholders. The lawsuit sought $8 billion in damages, alleging the defendants failed to oversee Facebook's compliance with FTC regulations and knowingly allowed the company to operate as an illegal data harvesting operation. This stems from the Cambridge Analytica scandal, where the political consulting firm accessed data from millions of Facebook users. The settlement was reached just before the trial was set to enter its second day, and before key figures like Zuckerberg, former COO Sheryl Sandberg, and other board members were scheduled to testify. This is one of several legal battles Meta is facing, including an antitrust case with the FTC and a lawsuit over the company's use of pirated materials to train its Llama AI.
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