Meta’s $8 Billion Courtroom Drama: Shareholders vs. Zuckerberg in Privacy Scandal Showdown
Investors are suing Meta CEO Mark Zuckerberg over the 2018 Cambridge Analytica scandal, seeking $8 billion. They allege Facebook didn’t disclose data misuse risks, violating a 2012 FTC order. Facebook’s privacy settings were as transparent as a brick wall, leading to hefty fines. Zuckerberg’s defense? “Oops, my bad” might not cut it this time.
Hot Take:
Who knew oversharing on Facebook could cost $8 billion? It’s like a pricey game of “Guess Who?” where everyone’s personal data is up for grabs. Maybe Zuckerberg should consider changing Meta’s slogan to “Privacy Optional.”
Key Points:
- Meta faces an $8 billion lawsuit over the 2018 Cambridge Analytica scandal.
- Investors claim Meta didn’t disclose user data risks, violating a 2012 FTC order.
- Facebook already paid $5.1 billion to settle FTC charges and $725 million in user settlements.
- Trial witnesses include privacy experts and former Facebook board members.
- The case is expected to continue through next week with testimony from Zuckerberg.
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