Meta Brass Agrees to Pay $190M in Settling Cambridge Analytica Case
Meta said it's happy with a $190 million settlement resolving a lawsuit alleging violations of user privacy in connection with the 2016 Cambridge Analytica scandal. Mark Zuckerberg and other current and former Meta senior executives agreed to pay, according to a news report Thursday.
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“We are pleased that a settlement was reached that reinforces our longstanding commitment to strong corporate governance,” a Meta spokesperson said in a Friday email to Privacy Daily.
The July trial in the case was adjourned abruptly, at the start of the second day, by Delaware Court of Chancery Presiding Judge Kathaleen McCormick. At the time, it was reported a settlement was reached before star witnesses like Zuckerberg could take the stand (see 2507170054). The shareholders had sought $8 billion from Facebook. The 2018 case accused leaders of the social media platform of costing investors billions of dollars when they mismanaged the fallout surrounding Cambridge Analytica (see 1803190056). The data of nearly 2 billion Facebook users was allegedly exposed in the incident.
A separate D.C. privacy suit stemming from Cambridge Analytica was revived in August after it was dismissed in 2022 (see 508010054).
The FTC previously issued a $5 billion privacy fine against Facebook for violating consumer privacy in 2019 (see 1910250049).