Overview

• A Delaware court opened the eight-day trial on July 17 under the state’s reformed corporate law before plaintiffs and defendants agreed to settle.
• Shareholders accused Zuckerberg and ten current and former directors of repeatedly breaching a 2012 FTC consent decree on user data protections.
• Attorneys claimed Zuckerberg sold roughly $5 billion in Facebook shares ahead of the public Cambridge Analytica revelations, netting over $1 billion.
• The agreement resolves claims against individuals only, leaving Meta Platforms off the hook as a corporate defendant.
• Plaintiffs had sought to recover Meta’s $5 billion FTC fine and related legal expenses, totaling more than $8 billion in damages.