Facebook Privacy Lawsuit: Many people including Meta CEO Zuckerberg will testify, case of paying eight billion dollars
Facebook Privacy Lawsuit: A lawsuit against Meta has been going on for a long time. In this case in a court in the US state of Delaware, the company's chief Mark Zuckerberg is now to testify. Apart from Zuckerberg, the company's former chief operating officer Sheryl Sandberg will testify in this eight-day trial. Know what is the whole matter.
An eight billion dollar lawsuit against Meta CEO Mark Zuckerberg and the company's leaders has been going on for several years. Now the shareholders in the lawsuit want Zuckerberg and others to testify. Zuckerberg and ex-chief operating officer Sheryl Sandberg will testify during this eight-day trial. Board members Marc Andreessen and Peter Thiel are also set to testify. The hearing will take place in the US state of Delaware's Chancery Court. Previously, the first trial's witness, privacy specialist Neil Richards, had given evidence for the shareholders on Monday morning.
The whole case is related to the claims of the privacy scandal related to the Cambridge Analytica political consulting firm that came to light in the year 2018. Investors have made several serious allegations in their lawsuit. For example, Meta did not fully disclose the risk that Cambridge Analytica could misuse the personal information of Facebook users. Cambridge Analytica is a firm that supported Donald Trump's election campaign in 2016.
Shareholders say Facebook officials have repeatedly violated the consent order signed in 2012 with the Federal Trade Commission. During the lawsuit, Facebook had to agree to pay a fine of $ 5.1 billion to settle the FTC's charges. The company also faced heavy fines in Europe, and a privacy settlement of $ 725 million was signed.
Now, shareholders want Zuckerberg and others to reimburse Meta for FTC fines and other legal costs. According to an estimate, a total of more than US$8 billion is to be paid.
