An $8 billion trial against Meta Platforms begins over claims of data harvesting, violating a 2012 agreement with the FTC. Former White House chief of staff Jeffrey Zients is expected to testify. Defendants include Mark Zuckerberg, Sheryl Sandberg, and others. Shareholders seek reimbursement for FTC fine and legal costs.

The case originated in 2018 after the Cambridge Analytica scandal. The FTC fined Facebook $5 billion for data violations. Shareholders estimate total costs to be over $8 billion. Defendants deny allegations, stating Facebook hired an outside firm for compliance. Meta has invested billions in user privacy since 2019.

The trial alleges board members failed to oversee the company, a challenging claim in Delaware corporate law. Boeing settled a similar case for $237.5 million in 2021. Plaintiffs also claim Zuckerberg sold shares before the scandal, profiting $1 billion. The trial marks a significant test for corporate oversight accountability.

Read more at Yahoo Finance: Facebook privacy practices the focus of $8 billion trial targeting Zuckerberg