#noticiascripto 🚨🔥Meta shareholders are suing the company's board for allegedly failing to enforce privacy rules

Meta executives will meet in a Delaware court starting Wednesday for a lawsuit filed by three minority shareholders who claim that the company's board of directors failed to enforce privacy rules.

While some have complained that it is almost impossible to hold large tech companies accountable, Meta has been criticized from within for prioritizing the personal protection of its CEO over user privacy.

$5B data privacy scandal

Meta executives, including its CEO Mark Zuckerberg and former COO Sheryl Sandberg, will appear in a Delaware corporate court this week for a shareholder lawsuit accusing the company's board of mismanaging privacy controls and approving a record $5B fine to protect Zuckerberg from personal liability.

The trial will start on Wednesday and last eight days. The case dates back to Meta's 2019 agreement with the U.S. Federal Trade Commission (FTC) following the Cambridge Analytica scandal in which the personal information of millions of app users was harvested through a third-party app and shared without consent.

Meta shareholders have alleged that the company's board breached its fiduciary duties by failing to comply with a 2012 FTC consent decree, and that the $5B settlement was unjustly high and designed to protect Zuckerberg's personal interests rather than serve the company or its shareholders.