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A $8 billion shareholder lawsuit against Meta over the Cambridge Analytica scandal has come to a close with a settlement reached just as a trial was set to begin. The outcome means that top executives at the company will not have to testify in court.
The lawsuit, which was first filed in 2018, accused Meta’s board of directors, including CEO Mark Zuckerberg, Sheryl Sandberg, and Peter Thiel, of failing to prevent the misuse of personal data by Cambridge Analytica. The scandal led to widespread criticism of Facebook’s handling of user privacy, ultimately resulting in a record-breaking fine from the FTC.
Despite the settlement, details of the agreement have not been disclosed, leaving it unclear what financial damages Meta will be required to pay to affected shareholders.
As the lawsuit was proceeding, Andreessen would have begun his testimony on Thursday.
Source: gizmodo.com
