Facebook privacy practices the focus of $8 billion trial targeting Zuckerberg
Data confidentiality violations by Meta leaders Cithable Central Hearing
Meta shareholders are looking for 8 billion dollars of compensation
The defendants say that they are taking steps to protect the user privacy
WILMINGTON, Delaware, July 16 (Reuters) – A hearing of the shareholders against Mark Zuckerberg and other existing and other former company leaders by Meta platforms, violating the 2012 agreement with the US Federal Trade Commission, the US users have raised the data illegally.
Jeffrey Zients, the General Manager of the White House, under the direction of President Joe Biden, is expected to be one of the first witnesses at the hearing before the Kathaleen McCormick, the Court of Delaware Chancery for two years.
The case will witness from Zuckerberg and former Chief Business Officer Sheryl Sandberg, initiative capitalist and board member Marc Andreesen and former Board Members Petantir Technologies, Founder of Technologies, Peter Thiel and other billionaire defendants.
A lawyer refused to comment on the defendants who rejected the allegations.
The case started in 2018 and revealed that the data obtained from millions of Facebook was accessed by Cambridge Analytica, a political consultancy company that works for the successful US presidential campaign of Donald Trump in 2016.
FTC, Cambridge Analytica scandal was fined 5 billion dollars after the scandal, and the company has violated the 2012 agreement with FTC to protect user data.
The shareholders want the defendants to pay meta repayments for FTC fines and other legal costs, which is estimated by the plaintiffs more than a total of more than $ 8 billion.
In the court files, the defendants described the allegations as “extreme” and said that the evidence in the hearing rented an external consulting firm to adapt to Facebook’s FTC agreement, and that Facebook is the victim of Cambridge Analytica’s deception.
The non -defendant meta, refrained from commenting. The company said on its website that it has invested billions of dollars to protect user privacy since 2019.
The case is considered the first example of the type of trial claiming that the members of the board of directors do not consciously control their companies. This is often defined as the most difficult claim to prove in Delaware corporate law.
Boeing’s current and former board members filed a lawsuit with allegations similar to $ 237.5 million in 2021, which is the largest so far on the allegation of violating the surveillance case. Boeing directors did not agree to do wrong.
In addition to the confidentiality allegations in the heart of the commodity case, the plaintiffs claim that Zuckerberg’s Cambridge Analytica scandal will reduce the company’s stock and consequently sell Facebook shares and sell at least $ 1 billion from mobile.
The defendants said that the evidence would show that Zuckerberg did not trade internal information and that he would show that he used a stock trade plan designed to protect against the trade of those who eliminate the control of sales and eliminated from inside.
McCormick is expected to decide on responsibility and damage months after the end of the hearing. (Reporting by Tom HALS in Wilmington, Delaware; Organizing by Noeleen Walder and David Gregorio)
