Zuckerberg faces trial in eight billion dollars’ privacy lawsuit
(MENAFN) A class action trial targeting Meta CEO Mark Zuckerberg and other top executives has begun in Delaware, with shareholders seeking $8 billion over alleged failures to protect user privacy, according to reports.
The lawsuit centers on the Cambridge Analytica controversy, where millions of Facebook users’ personal information was improperly accessed by the political consulting firm linked to Donald Trump’s 2016 campaign. The plaintiffs argue that Meta did not alert investors to the risks of this data misuse.
According to the claims, Facebook breached a 2012 consent agreement with the Federal Trade Commission (FTC) by continuing to gather and share user data without proper consent. It is alleged that the company sold this data to commercial partners and removed key privacy notifications required under the agreement.
As a result of the fallout, Meta paid a $5.1 billion penalty to the FTC, settled with users for $725 million, and was fined by European regulators as well. Now, shareholders are asking that Zuckerberg and others cover the legal expenses tied to these outcomes.
On Monday, privacy law expert Neil Richards testified that Facebook’s privacy policies “were misleading.” Jeffrey Zients, a former board member, also testified, stating he backed the FTC settlement “to move forward,” despite the substantial financial hit.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
