Overview

• Mark Zuckerberg and current and former Meta directors reached a confidential settlement on July 17 to end the $8 billion shareholder suit without admitting wrongdoing.
• The lawsuit accused executives of failing to uphold Facebook’s 2012 FTC privacy consent order and allowing repeated data misuse following the Cambridge Analytica scandal.
• Plaintiffs brought a rare Caremark claim in Delaware’s Court of Chancery, targeting alleged board negligence to seek personal reimbursement of regulatory fines and legal costs.
• Judge Kathaleen McCormick adjourned the non-jury trial just before scheduled testimony from Zuckerberg, Sheryl Sandberg, Peter Thiel and Marc Andreessen.
• Critics said the deal forecloses public scrutiny of Meta’s governance and forgoes a rare judicial examination of Silicon Valley leadership.