Mark Zuckerberg and the current and former directors and executives of the target reached an agreement on Thursday to end the dispute that asks $ 8 billion for damage that they allegedly caused to the company by allowing repeated violations of Facebook users privacy, a shareholder lawyer said to a Delaware judge.
The parties did not reveal details of the agreement, and the defense lawyers did not go to Judge Kathaleen McCormick of the Delaware Chancellery Court. McCormick suspended the trial as he entered his second day and congratulated the parties for the agreement.
The lawyer’s lawyer, Sam Closic, said the agreement was closed quickly.
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Billionaire investor Marc Andreessen, who is a defendant in the trial and director of the goal, was scheduled to witness on Thursday.
Goal shareholders have processed Zuckerberg, Andreessen and other former company executives, including former operations director Sheryl Sandberg, hoping to hold them for billions of dollars in fines and legal costs that the company has paid in recent years.
The federal trade commission fined Facebook at $ 5 billion in 2019, after finding that the company did not comply with a 2012 agreement with the regulatory body to protect user data.
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The shareholders wanted the 11 defendants to use their personal assets to reimburse the company. The defendants denied the allegations, which they classified as “extreme allegations.”
Facebook changed its name to goal in 2021. The company is not revealed in the case.
The company refused to comment, and a lawyer of the defendants did not immediately respond to a request for comment.
