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An $8 billion shareholder lawsuit against Meta over the Cambridge Analytica scandal has come to a close with an undisclosed settlement, sparing top executives from having to testify under oath. The agreement was reached at the last minute, just as a trial was set to begin.
The suit had sought billions of dollars in damages from the defendants, which included high-ranking members of Meta’s board. Notably, this would have forced Meta CEO Mark Zuckerberg, along with venture capitalists Peter Thiel and Marc Andreessen, both of whom have played critical roles at the company, to take the stand.
Sheryl Sandberg, who departed Meta in 2022 and left its board last year, would also have been required to testify. The settlement brings an end to a years-long legal battle that began back in 2018.
Source: gizmodo.com
