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Meta investors settle $8bn lawsuit with Zuckerberg over Facebook privacy

feeds.bbci.co.uk Unknown 2025-07-23 16:35:58

Meta investors settle $8bn lawsuit with Zuckerberg over Facebook privacy Mark Zuckerberg has agreed to settle a multibillion dollar lawsuit with a group of shareholders over how top executives at Meta handled repeated privacy violations by Facebook. The shareholders were seeking $8bn (£6bn) in damages. It is unclear how much they agreed to settle for. The settlement was announced on Thursday by a lawyer for the shareholders, just before the trial was about to enter its second day in a Delawar

Topics: facebook meta settle shareholders zuckerberg
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Tesla's change in bylaws to limit shareholder lawsuits slammed by New York state officials

cnbc.com Lora Kolodny 2025-07-25 22:33:36

In May, Tesla changed its corporate bylaws in a way that would require investors to own 3% of the stock, today worth about $30 billion, in order to file a derivative lawsuit against the company for breach of fiduciary duties. Authorities in New York State are now asking Tesla to delete the bylaw entirely. Overseers of the New York State Common Retirement Fund, which owns about 0.1% of Tesla's shares, submitted a formal proxy proposal and letter to the company on July 11, and shared it with CNBC

Topics: company shareholders state tesla york
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Meta shareholders look to haul CEO Mark Zuckerberg, Sheryl Sandberg to court

news.ycombinator.com Unknown 2025-07-28 01:45:43

Mark Zuckerberg is slated to make yet another high-stakes courtroom appearance this week as shareholders seek to hold him accountable for the more than $8 billion that Meta has spent to settle lawsuits over privacy violations. The trial, set to begin Wednesday in Delaware’s Court of Chancery, aims to hold Zuckerberg, former Meta COO Sheryl Sandberg and other former executives personally liable for the billions the company spent to resolve allegations that it failed to safeguard user data. Sh

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Apple shareholders sue over Apple Intelligence and Siri delays

9to5mac.com Chance Miller 2025-09-04 06:03:26

Apple is continuing to face fallout from its Apple Intelligence rollout. As spotted by Reuters, Apple shareholders have sued Apple in a proposed class action securities fraud case for allegedly “downplaying how long it needed to integrate advanced artificial intelligence into its Siri voice assistant.” The lawsuit alleges that this misrepresentation negatively impacted iPhone sales and Apple’s stock price. In the lawsuit, Apple executives, including CEO Tim Cook, CFO Kevan Parekh, and former C

Topics: apple intelligence lawsuit shareholders siri
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New details emerge on Meta’s $14.3B deal for Scale

techcrunch.com Julie Bort 2025-09-15 10:35:56

In Brief Meta’s deal to partially acquire the AI startup Scale, giving it 49% ownership, is certainly unusual. What Scale officially announced is that the deal values the company at over $29 billion and that it will “distribute” proceeds to shareholders and vested equity holders (aka employees) granting them with “substantial liquidity” while allowing them to continue as shareholders. Meta is also hiring Scale’s famed founder CEO Alexandr Wang, who famously dropped out of MIT at age 19 to bui

Topics: billion company meta scale shareholders
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