Meta privacy trial: Here’s what shareholders allege against Mark Zuckerberg, from illegal data mining to board failures…
According to reports, the technology and social media giant commodity shareholders have filed more than $ 8 billion in money penalties in terms of a confidentiality scandal allegedly allegedly on Mark Zuckerberg’s Facebook.
The Action claims that millions of Facebook users have been accessed by Cambridge Analytica, who is currently destroyed, and that Mark Zuckerberg himself and former head business officer (COO) Sheryl Sandberg – the company prevented the operation of the social media ship to execute illegal data harvesting.
Interestingly, Cambridge Analytica worked in 2016 at Donald Trump’s successful US Presidential Campaign.
Bloomberg and Reuters said he didn’t respond immediately to the Meta spokesman queries.
Meta, Facebook’s privacy ‘scandal’: What happened?
The report claimed that the commodity shareholders, which are largely consisting of union pension funds, claimed that Mark Zuckerberg and Sheryl Sandberg were “running the company as an illegal data harvest operation ,, while the Board was“ fully ignored the task of controlling the company ”.
The plaintiffs ask the US Federal Trade Commission (FTC) to reimbit more than $ 8 billion to META from the managers who were paid to resolve the Violation of the Privacy Agreement of the 2012 Privacy Agreement.
According to a Reuters report, Facebook started on July 16th (Wednesday) at a Delaware court on Facebook and is planned to last until July 25 (next Friday). In particular, according to the Bloomberg report, Tesla CEO Elon Musk’s 55 billion dollars of payment package rejected the dominant Chancellor Kathalaen St. J is heard by McCormick.
Among the defendants in the case, the initiative is capitalist and current board member Marc AndreesSen; and former members of the Board of Directors, Petantir Technologies Founding Partner Peter Thiel and the founding partner of Netflix Reed Hastings.
- Facebook’s data sharing applications to violate the 2012 FTC order and to protect Mark Zuckerberg from responsibility to protect the shareholder interests later.
- According to court applications, Facebook executives are also accused of not being able to properly monitor the platform’s commitment to this order.
- Investors also accuse Zuckerberg of internal learning trade.
In particular, after the trade allegations of the learners from the inside, Zuckerberg took action to seal stock trade strategies from public revelation during the hearing and claimed that there was extremely confidential information.
Mark Zuckerberg controls approximately 61 percent of the voting power of the Meta Board with a double -class stock structure and according to the BB report, the past, present and future controls on an effective control over the institutional strategy.
(With the inputs of Bloomberg and Reuters)
