Meta Reaches Court Deal In $8B Investor Suit Over Data Privacy Violations

A settlement was reached on Thursday in a class-action lawsuit against Meta CEO Mark Zuckerberg and other current and former leaders, according to NPR. Investors alleged that Meta failed to disclose the risk that Facebook users’ personal data could be misused by Cambridge Analytica, which backed Trump’s 2016 campaign. They also claimed that Facebook repeatedly violated a 2012 FTC consent order, which prohibits the collection and sharing of user data without consent. Shareholders sought over $8 billion in reimbursement for the $5.1 billion fine imposed by the FTC and other related legal costs.