Meta Shareholders Sue CEO Mark Zuckerberg and COO Sheryl Sandberg Over 2012 Scandal
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10mo ago· 5 min readenNews
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Summary
Meta shareholders are taking legal action against CEO Mark Zuckerberg and COO Sheryl Sandberg over the 2012 scandal involving privacy violations and the Cambridge Analytica breach. Zuckerberg is expected to testify in court regarding the $8 billion spent by Meta to settle lawsuits related to privacy issues.
Key quotes
· 2 pulledMark Zuckerberg is slated to make yet another high-stakes courtroom appearance this week as shareholders seek to hold him accountable for the more than $8 billion that Meta has spent to settle lawsuits over privacy violations.
That failure, they say, enabled the Cambridge Analytica scandal — a notorious breach that saw data from tens of millions of Facebook users improperly harvested for political profiling.
Meta shareholders argue that Zuckerberg, Sandberg and former VP Konstantinos Papamiltiadis violated their fiduciary duties over a 2012 consent order.
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