Meta Platforms(US:META) Benzinga·2025-11-22 07:15Core Points - Meta Platforms and several directors have agreed to a $190 million settlement for a shareholder lawsuit regarding privacy protection failures [1][2] - The lawsuit claimed that leadership allowed data misuse leading to significant fines, including a $5 billion penalty from the Cambridge Analytica scandal [2] - The settlement is the second-largest Delaware derivative settlement related to oversight failures and will be covered by directors' and officers' insurance [3] Settlement Details - The settlement amount was previously sealed and disclosed in a filing in Delaware Chancery Court [1] - As part of the settlement, the board will enhance policies on director conduct, insider trading, and whistleblower protections [1] - Plaintiffs' lawyers may seek fees of up to 30% of the settlement amount [3] Trial Implications - A high-profile trial involving testimonies from key figures such as Mark Zuckerberg and Sheryl Sandberg has been halted due to the settlement [4] - The settlement prevents further legal proceedings that could have involved significant public scrutiny of Meta's leadership [4]