Meta Executives Settle $8 Billion Lawsuit Over Cambridge Analytica Scandal
📷 Image source: i.insider.com
Meta CEO Mark Zuckerberg and other top executives have reached an $8 billion settlement in a shareholder lawsuit tied to the Cambridge Analytica privacy scandal, avoiding a potentially damaging trial. The lawsuit, filed by investors, accused Meta (formerly Facebook) of failing to safeguard user data, leading to the unauthorized harvesting of personal information by the political consulting firm. The scandal, which erupted in 2018, involved data from 87 million Facebook users being used for targeted political advertising without consent. The settlement marks one of the largest payouts in corporate history related to privacy violations. Legal experts suggest the resolution allows Meta to move forward without prolonged litigation, though it underscores lingering concerns over data governance. The company has since implemented stricter privacy policies, but critics argue more regulatory oversight is needed to prevent future breaches.
