Zuckerberg Settles $8 Billion Cambridge Analytica Shareholder Lawsuit

Mark Zuckerberg, along with current and former Meta directors and officers including Sheryl Sandberg and Marc Andreessen, settled a multi-billion dollar shareholder lawsuit related to the Cambridge Analytica privacy scandal and alleged repeated violations of Facebook users' privacy. The lawsuit sought to hold these individuals personally liable for billions in fines and legal costs paid by Meta, following a $5 billion FTC fine in 2019 for failing to comply with a 2012 user data protection agreement. The settlement was reached just as the trial was entering its second day in Delaware Court of Chancery, avoiding testimony from key figures including Zuckerberg, Sandberg, Andreessen, Peter Thiel, and Reed Hastings. While the settlement details remain undisclosed, critics such as Jason Kint of Digital Content Next argue it represents a missed opportunity for public accountability. The shareholders alleged that the defendants conspired to overpay the government in the settlement to protect Zuckerberg from personal wrongdoing claims and failed to oversee compliance with privacy regulations. Meta, which rebranded from Facebook in 2021, was not a defendant and declined to comment on the settlement.