Overview

• Meta’s board members, including Mark Zuckerberg and Sheryl Sandberg, settled an $8 billion shareholder lawsuit over repeated privacy breaches linked to the Cambridge Analytica scandal.
• Judge Kathaleen McCormick adjourned the first Delaware trial testing Caremark oversight claims just as executives were set to testify.
• Terms of the settlement remain confidential, sparing defendants from public testimony and leaving unclear whether any personal liability was admitted.
• The lawsuit accused directors of breaching fiduciary duties by failing to enforce a 2012 FTC consent order, prompting a record $5 billion fine in 2019.
• Critics say the hush-hush deal missed an opportunity to probe Meta’s surveillance-based business model and strengthen corporate governance standards.