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Meta and Zuckerberg investors reach agreement to settle $8 billion lawsuit over Facebook privacy dispute
Mark Zuckerberg and current and former executives and directors of Meta Platforms (META.O), open a new tabFacebook shareholders agreed on Thursday to settle their claims seeking $8 billion for damages they allege the company caused by allowing repeated violations of Facebook user privacy, a shareholder attorney told a Delaware judge on Thursday.
The parties did not disclose the details of the agreement and defense attorneys did not speak before Judge Kathaleen McCormick of the Delaware Chancery Court. Ms. McCormick adjourned the trial just before its second day and congratulated the parties.
Plaintiff attorney Sam Closic stated that the agreement was reached quickly.
Venture capitalist billionaire Marc Andreessen, named in the lawsuit and a director of Meta, was set to testify on Thursday.
Meta shareholders sued Zuckerberg, Andreessen, and other former company executives, including former Chief Operating Officer Sheryl Sandberg, hoping to hold them accountable for the billions of dollars in fines and legal fees paid by the company in recent years.
