Meta shareholders are initiating a lawsuit against Mark Zuckerberg and other executives over decisions linked to the Cambridge Analytica scandal of 2018. The lawsuit stems from alleged violations of a 2012 FTC agreement concerning user data. The plaintiffs contend that Zuckerberg and others failed in their oversight duties, directly contributing to a significant loss in the company's market value. They are seeking reimbursement of approximately $8 billion to cover fines and related expenses stemming from these actions. The case represents a notable legal challenge in executive accountability in Big Tech.
Meta shareholders are suing current and former executives, including Mark Zuckerberg, over the company's actions during the Cambridge Analytica scandal, claiming billions in damages.
Investors allege the company knowingly violated a 2012 FTC order under Zuckerberg's direction, seeking $8 billion reimbursement for fines and related costs.
Collection
[
|
...
]