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Investing.com -- Mark Zuckerberg and other current and former leaders of Meta Platforms have agreed to pay $190 million to resolve shareholder allegations that they damaged the company by violating Facebook users’ privacy.
The settlement, announced Thursday, ends litigation where shareholders accused the Facebook co-founder and other defendants of causing billions in fines and legal costs from privacy regulation violations.
This agreement finalizes a deal reached on July 17 that ended an eight-day trial on its second day. Shareholders had originally sought $8 billion from Zuckerberg and 10 current and former directors and officers for allegedly allowing access to Facebook users’ personal information without consent.
All defendants had denied the allegations.
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