Meta Platforms(US:META) Feng Huang Wang·2025-07-17 23:11Core Points - Meta CEO Mark Zuckerberg and current and former directors and executives have agreed to settle a privacy lawsuit claiming damages of $8 billion [1][2] - The lawsuit accused them of allowing Facebook users' privacy to be violated, resulting in significant losses for the company [1] - The specific details of the settlement agreement have not been disclosed, and the judge congratulated both parties on reaching a resolution [1] Group 1 - The lawsuit was initiated by Meta shareholders who sought to hold Zuckerberg and other executives accountable for billions in fines and legal fees incurred by the company [1] - The Federal Trade Commission fined Facebook $5 billion in 2019 for failing to comply with a data protection agreement established in 2012 [1] - Billionaire venture capitalist Marc Andreessen, a defendant in the case and a Meta board member, was scheduled to testify but the trial concluded with the settlement [1] Group 2 - The defendants denied the allegations, labeling them as "extreme claims" [2] - Meta, which rebranded from Facebook in 2021, is not a defendant in the lawsuit and has refrained from commenting on the matter [2] - Since 2019, Meta has reportedly invested billions of dollars to enhance user privacy protections [2]