Meta Board, Zuckerberg Settle $8 Billion Facebook Privacy Lawsuit

The case could have set a precedent for holding corporate directors accountable for data privacy failures, but the settlement rules out future court proceedings

Meta founder and CEO Mark Zuckerberg arrives to testify before the Senate Judiciary Committee in Washington, on Jan. 31, 2024. Madalina Vasiliu/The Epoch Times

CEO Mark Zuckerberg, along with current and former members of Meta Platforms Inc.’s board of directors, reached a settlement to close a shareholder lawsuit that accused Facebook executives of failing to prevent massive user data breaches that cost the company billions.

On July 17, the day after a formal trial began, a settlement agreement was announced in Delaware’s Court of Chancery. Terms of the settlement were not immediately disclosed.