Meta's $8 Billion Courtroom Clash: Shareholders vs. Zuckerberg

Meta Platforms shareholders are suing Mark Zuckerberg and other leaders over claims they illegally harvested Facebook user data, violating a 2012 FTC agreement. The case involves high-profile testimonies and is the first trial of its kind to address board member oversight failure.

Shareholders of Meta Platforms have launched an $8 billion lawsuit against Mark Zuckerberg and other executives, accusing them of illegally using Facebook user data, infringing on a 2012 Federal Trade Commission agreement.

The non-jury trial is being presided over by Kathaleen McCormick, chief judge of the Delaware Chancery Court, with testimony expected from Zuckerberg, Sheryl Sandberg, and other prominent figures.

This is the first trial alleging board oversight failure in Delaware corporate law. Plaintiffs also accuse Zuckerberg of insider trading linked to the Cambridge Analytica scandal impact on Facebook stock.

(With inputs from agencies.)