Shareholders claim that Facebook paid too much for an FTC settlement to protect Zuckerberg. Engadget

Facebook shareholders have filed a lawsuit alleging that board members paid a $ 5 billion fine to protect CEO Mark Zuckerberg from an individual lawsuit. Politics reported. “Zuckerberg, Sandberg, and other Facebook directors have agreed to authorize a billion-dollar settlement with the FTC as an express pro quo to protect Zuckerberg from the name of the FTC’s complaint, subject to personal liability, or even oblige to for a deposition, “according to one of the two thoughts submitted.

The two lawsuits filed in a Delaware court last month refer to internal discussion among Facebook board members. In February of 2019, the FTC personally mentioned both Facebook and Zuckerberg as defendants in a draft complaint sent to company attorneys, according to the shareholders (the FTC has never disclosed such plans). Two Democrats voted against the settlement, saying Zuckerberg should be held personally accountable.

“The FTC has never announced that it originally intended to name Zuckerberg personally in the lawsuit, and the agency’s two Democrats at the time partially voted against the settlement due to the lack of personal responsibility for the chief executive,” he said. claims a group of shareholders.

The $ 5 billion settlement was the result of an FTC lawsuit filed over Facebook’s Cambridge Analytica scandal. Democratic commissioners said the settlement would not have the desired outcome, namely to force Facebook to improve privacy and other issues. Since then, privacy has remained an issue on Facebook and its other platforms, as well as areas such as misinformation, harassment and double standards for elite users, according to a recent WSJ series.

“The board has never launched a serious investigation into Zuckerberg’s unimpeded authority,” said a set of shareholders. “Instead, it enabled him, defended him, and paid billions of dollars out of Facebook’s business box to make his problems go away.”

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