Last-minute settlement keeps Zuckerberg, Andreessen, Thiel, Sandberg, and other Meta board members from taking the stand in $8 billion privacy suit
It would have been quite a trial.
Next week was supposed to feature several titans of tech taking the stand in the Delaware Court of Chancery to defend themselves against an $8 billion privacy lawsuit brought by Meta investors.
The lawsuit was not directed Meta itself, but rather top executives and board members.
Meta shareholders who filed the suit alleged that company leadership knowingly violated user privacy and ran afoul of a 2012 FTC consent decree, among other privacy-related missteps.
The suit alleged that the lax privacy controls led to the 2015 Cambridge Analytica scandal, when the voter profiling company collected huge amounts of personal data from Facebook users using third-party access to the platform.
Today was the second day of the trial, and Reuters reports that the parties reached an undisclosed settlement, ending the case and saving some big names from testifying.
Meta CEO Mark Zuckerberg, venture capitalist and Meta Director Marc Andreessen, former Meta Chief Operating Officer Sheryl Sandberg, Palantir cofounder Peter Thiel, and Netflix cofounder and Chairman Reed Hastings were all expected to give testimony in the case.
The lawsuit was not directed Meta itself, but rather top executives and board members.
Meta shareholders who filed the suit alleged that company leadership knowingly violated user privacy and ran afoul of a 2012 FTC consent decree, among other privacy-related missteps.
The suit alleged that the lax privacy controls led to the 2015 Cambridge Analytica scandal, when the voter profiling company collected huge amounts of personal data from Facebook users using third-party access to the platform.
Today was the second day of the trial, and Reuters reports that the parties reached an undisclosed settlement, ending the case and saving some big names from testifying.
Meta CEO Mark Zuckerberg, venture capitalist and Meta Director Marc Andreessen, former Meta Chief Operating Officer Sheryl Sandberg, Palantir cofounder Peter Thiel, and Netflix cofounder and Chairman Reed Hastings were all expected to give testimony in the case.
