Mark Zuckerberg & Former Meta Directors Reach USD 190 Million Privacy Deal

Meta Platforms said a group of current and former Directors, including Mark Zuckerberg, will pay the company USD 190 million to settle shareholder claims linked to past privacy violations.

The settlement also includes policy changes covering Director conduct, insider trading rules, and whistleblower protections. The case accused company leaders of causing Meta billions of dollars in fines and legal costs tied to the misuse of Facebook user data, including issues connected to the Cambridge Analytica incident. The agreement finalises a deal reached during a scheduled trial in July, where shareholders had sought USD 8 billion from Zuckerberg and other Directors. The payment will come from Directors’ and officers’ liability insurance. Shareholders bringing the case said the settlement is one of the largest derivative recoveries in Delaware. Plaintiffs’ attorneys plan to seek fees of up to 30% of the settlement and related expenses.