Overview

• The settlement terminates the planned eight-day trial over claims that Mark Zuckerberg, Sheryl Sandberg and other executives violated a 2012 Federal Trade Commission privacy agreement
• Investors had sought roughly $8 billion to cover the FTC’s $5 billion penalty and additional legal expenses tied to the Cambridge Analytica scandal
• The case opened with testimony from privacy expert Neil Richards for the plaintiffs and former Facebook board member Jeffrey Zients defending the company’s data practices
• Defendants denied all allegations, maintaining that Facebook complied with the FTC consent decree and that no illicit conduct occurred
• Terms of the confidential deal were not disclosed and the Delaware Court of Chancery will review the settlement details out of public view