Meta investors settle $8b lawsuit with Zuckerberg
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With a settlement, current and former board leaders avoid having to take the stand in a lawsuit over their response to the Cambridge Analytica scandal.
The class action lawsuit against Meta CEO Mark Zuckerberg and other leaders concerns privacy breaches related to Cambridge Analytica. Investors claim Meta failed to disclose risks as Facebook violated an FTC consent order.
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Shareholders claim that Mark Zuckerberg and other top officials should have to reimburse Facebook for $8 billion in fines and penalties.