Meta Investors Settle $8-B Lawsuit With Zuckerberg Over Facebook Privacy

Mark Zuckerberg has agreed to settle a multibillion-dollar lawsuit with a group of shareholders over how Meta executives and directors handled repeated privacy violations by Facebook, Nadine Yousif and Lily Jamali reported for BBC News.

The plaintiffs had alleged that Zuckerberg's decisions led to the Cambridge Analytica scandal.

The shareholders were seeking $8 billion (£6 billion) in damages. It is unclear how much was agreed upon in the settlement. The deal was announced by a lawyer for the shareholders, just before the trial was set to enter its second day in a Delaware court.

The plaintiffs had alleged that Zuckerberg's decisions led to the Cambridge Analytica scandal, in which the data of millions of Facebook users was improperly accessed and used by a political consulting firm.

They asked the judge to order the 11 defendants named in the case to reimburse Meta for more than $8 billion in fines and legal costs the company incurred in resolving privacy claims.

The shareholders also questioned the timing of stock sales by top executives. Meta, formerly known as Facebook, is the parent company of the social media platform, as well as Instagram and WhatsApp.