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Settlement in Meta Privacy Suit Spares Board Members Zuck, Sandberg, and Thiel From Testifying
A lengthy shareholder lawsuit against Meta has concluded with a settlement, bringing an end to the years-long legal battle. The agreement spares Mark Zuckerberg, Sheryl Sandberg, and Peter Thiel from having to testify under oath about their potential roles in alleged violations of Facebook’s privacy policy.
The controversy surrounding Cambridge Analytica, a data analytics firm that harvested user data without consent, first gained widespread attention in 2017. An $8 billion shareholder lawsuit was subsequently filed against Meta’s top executives, alleging they were aware of the issue and did not take sufficient action to address it.
According to reports, the settlement was reached just as the trial was about to begin, saving top-level executives from having to answer questions under oath. The board members spared from testifying include CEO Mark Zuckerberg, along with former COO Sheryl Sandberg, who left Meta in 2022 and stepped down from the company’s board last year.
Venture capitalist Peter Thiel, another member of Meta’s board, would have also been required to testify had the settlement not been reached. The agreement’s terms remain undisclosed, leaving many questions unanswered about what exactly occurred during the scandal.
The Cambridge Analytica saga has significantly impacted Facebook’s (now rebranded as Meta) reputation and led to numerous investigations and fines from regulators.
Source: gizmodo.com
