Meta privacy trial: Here’s what shareholders allege against Mark Zuckerberg, from illegal data mining to board failures…

Shareholders of tech and social media giant Meta, have sued for more than $8 billion in in fines and legal reimbursements, in relation to an alleged privacy scandal at Mark Zuckerberg’s Facebook, as per reports.

The action is based on relevations that data of millions of Facebook users was accessed by now defunct political consultant Cambridge Analytica, and alleges that around 11 executives — including Mark Zuckerberg himself and former Chief Operating Officer (COO) Sheryl Sandberg — indulged in insider trading and used the company to conduct illegal data harvesting, while the board failed to oversee the social media giant’s operations.