Meta directors, investors settle $8 bn privacy suit

Mark Zuckerberg and current and former directors and officers of Meta Platforms agreed on Thursday to settle claims seeking $8 billion for the damage they allegedly caused the company by allowing repeated violations of Facebook users' privacy, a lawyer for the shareholders told a Delaware judge on Thursday.

- TOM HALS

The parties did not disclose details of the settlement and defense lawyers did not address the judge, Kathaleen McCormick of the Delaware Court of Chancery. McCormick adjourned the trial just as it was to enter its second day and she congratulated the parties.

The plaintiffs' lawyer, Sam Closic, said the agreement just came together quickly. Billionaire venture capitalist Marc Andreessen, who is a defendant in the trial and a Meta director, was scheduled to testify on Thursday.

Shareholders of Meta sued Zuckerberg, Andreessen and other former company officials including former Chief Operating Officer Sheryl Sandberg in hopes of holding them liable for billions of dollars in fines and legal costs the firm paid in recent years.