Mark Zuckerberg, the CEO of Meta Platforms, Inc., and several other former officers and directors of the company, have agreed to personally pay $190 million to the company as part of a settlement agreement with shareholders to end a multibillion-dollar class-action lawsuit about data-privacy violations by social media platform Facebook.
The deal was unveiled on Nov. 20 and ended a trial in the Delaware Court of Chancery, one of the most high-profile business law fora in the United States, where several shareholders of Meta had filed a derivative lawsuit seeking $8 billion in compensation. Apart from Zuckerberg, the defendants in the case included several billionaires such as venture capitalist Marc Andreessen, businesswoman Sheryl Sandberg, investor Peter Thiel, and Netflix CEO Reed Hastings, all of whom have either served on Meta’s board of directors or, in the case of Sandberg, worked for the company as a senior executive.
