Zuckerberg and Meta directors agree to $190 million settlement of shareholder privacy oversight case

Mark Zuckerberg and current and former Meta leaders agreed to pay Meta $190 million to settle shareholder claims that the company was harmed by privacy-related failures. The shareholders alleged that Meta suffered billions in fines and legal costs due to violations of privacy rules arising from allegations that Facebook users’ information was accessed without consent.

This case, which has been ongoing for quite some time and featured high-profile tech leaders as witnesses, reminds us that privacy violations impact not only users but also investors. This is yet another financial implication businesses must take into account when forming their data privacy strategy.