Zuckerberg – the cornered animal. Reminds anyone of a certain someone?
Facebook is remaining silent over two explosive lawsuits unsealed this week which contain allegations that board members “authorized” the overpayment of an FTC fine by up to $4.9bn in order to protect CEO Mark Zuckerberg.
The $5bn penalty was dished out to the social network by the Federal Trade Commission back in 2019 for “deceiving users” about their control over private data in the wake of the Cambridge Analytica scandal.
Other allegations detailed in the complaints include claims the firm deliberately swerved implementing privacy controls in service of an “illegal” business model and that board members, including Marc Andreessen, Palantir boss Peter Thiel, Sheryl Sandberg, Michael Schroepfer (who resigned as Facebook CTO on Monday – see sidebar) and Zuckerberg himself, had exploited the company’s “non public information” (insider trading).
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