07:34:15 EDT Sat 19 Jul 2025
Enter Symbol
or Name
USA
CA



Meta CDR (CAD Hedged)
Symbol META
Shares Issued 11,250,000
Close 2025-07-16 C$ 38.45
Market Cap C$ 432,562,500
Recent Sedar Documents

Globe/wire say Meta investors sue Zuckerberg, others

2025-07-17 07:10 ET - In the News

The Globe and Mail reports in its Thursday, July 17, edition that a trial by Meta shareholders seeking $8-billion (U.S.) from Mark Zuckerberg and other leaders, began on Wednesday. A Reuters dispatch to The Globe reports that the claims involve the illegal harvesting of Facebook user data, violating a 2012 agreement with the U.S. Federal Trade Commission. The plaintiffs' privacy expert, Neil Richards from Washington University Law School, testified about Facebook's data policies. "Facebook's privacy disclosures were misleading," he told the non-jury trial before Kathaleen McCormick, chief judge of the Delaware Chancery Court. In later testimony, Jeffrey Zients, who served on Facebook's board from 2018 to 2020, testified that consumer privacy and user data were priorities for both management and the board. Nonetheless, he supported settling with the FTC as it investigated potential violations of the 2012 consent order, so the company could move forward. "It was difficult because this was a lot of money, but I think it was better than the alternative," Mr. Zients said. Asked if the board considered making its founder a party to the settlement, he said Mr. Zuckerberg was "essential" to running the company.

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