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Zuckerberg Reaches Settlement With Meta Shareholders In $8 Billion Privacy Case, Report Says
Forbes· 2025-07-17 14:10
Core Viewpoint - Meta CEO Mark Zuckerberg and other executives have reached a settlement with shareholders, concluding a long-standing lawsuit regarding the alleged harvesting of user data, which could have resulted in $8 billion in damages [1][2][3]. Group 1: Lawsuit Background - The lawsuit was initiated by Facebook shareholders in 2018, accusing Zuckerberg, former COO Sheryl Sandberg, and other board members of violating a Federal Trade Commission agreement by sharing user data with third-party applications without user consent [3]. - The trial was anticipated to include testimonies from high-profile individuals associated with Facebook, including Zuckerberg, Sandberg, and billionaires Peter Thiel, Marc Andreessen, and Netflix CEO Reed Hastings [3]. Group 2: Settlement Details - An attorney representing the shareholders confirmed that a settlement was reached quickly, although specific details of the agreement have not been disclosed [2]. - The settlement effectively ends the potential for a trial that could have been a significant financial liability for Meta, with claims amounting to $8 billion [1][3].