Meta shareholders sue Mark Zuckerberg over $8 billion spent on settling privacy lawsuits

Mark Zuckerberg is set to appear in court this week in Delaware as shareholders aim to hold him and other former executives accountable for over $8 billion spent to settle privacy lawsuits. The lawsuit claims they failed to comply with a 2012 FTC consent order, which led to the Cambridge Analytica scandal that affected millions of users.

Shareholders allege the defendants ignored “red flags” prior to the incident, highlighting a 2019 FTC settlement of $5 billion. The trial will also examine Meta's knowledge and management decisions leading up to the breach.