Meta, Zuckerberg settle over Facebook privacy violation
The existing and former executives and civil servants of Mark Zuckerberg and meta platforms, a lawyer for shareholders, told a Delaware judge, allowing the confidentiality of Facebook users to be violated and repeatedly agreed to solve the Multi billion -dollar allegations for the alleged damages caused by the company.
Shares were looking for $ 8 billion (A12 billion dollars) in allegations.
The parties did not explain the details of the settlement and defense lawyers, and they did not address Kathaleen McCormick from Delaware Chance Court. McCormick postponed the hearing as if to enter the second day and congratulated the parties.
The plaintiff’s lawyer Sam Closic said the agreement came together quickly.
Billionaire initiative capitalist Marc Andreessen was planned to testify on Thursday, a defendant and commodity director at the hearing.
Other former company officials, including Meta’s shareholders Zuckerberg, Andreessen and former Chief Operation Officer Sheryl Sandberg, are hoping to hold the company responsible for billions of dollars and legal costs paid by the company in recent years.
In 2019, the Federal Commercial Commission fined Facebook for 5 billion dollars (A7.7 billion dollars), and then found that it did not comply with the 2012 agreement with the regulator to protect users.
The shareholders asked the 11 defendants to use their personal delegations to make reimbursement to the company. The defendants rejected the allegations that they call “extreme claims ..
Facebook changed its name to Meta in 2021. The company was not a defendant and refused to comment.
The company said on its website that it has invested billions of dollars to protect user privacy since 2019. A lawyer refused to comment for the defendants.
“This settlement can bring relief to the relevant parties, but an opportunity for public accountability,” he said.
Zuckerberg was expected to stop on Monday and Sandberg on Wednesday. The hearing is planned to last until the end of the next week.
The case was also expected to include the statement of Reed Hastings, the founding partner of Peter Thiel, Palantir Technologies, Founding Partner of Palantir Technologies.
Settling, Zuckerberg and other defendants avoid answering questions under the oath. Sandberg, during the case, was probably deleted the most sensitive e -mails and sanctions were applied and made it difficult for him to tell the story of the story.
The settlement allows plaintiffs to avoid trying a very difficult case. Meta investors claimed that former and existing board members could not fully control the compliance of the company’s 2012 FTC agreement. The case also claimed that Zuckerberg and Sandberg knowingly run Facebook as an illegal data harvest operation.
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