Overview

• Shareholders filed the class action in 2018 seeking more than $8 billion over alleged negligence and insider trading tied to the 2016 data breach.
• Mark Zuckerberg and ten current or former executives reached the settlement on July 17, one day after the trial began in Wilmington, Delaware.
• Only former White House official Jeffrey Zients testified before the agreement spared the other defendants from public court appearances.
• Meta was never named as a defendant and the financial details of the deal remain undisclosed.
• The resolution follows Facebook’s record $5 billion FTC penalty and closes a decade-long chapter in the company’s data-privacy controversies.