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Facebook may have vastly overpaid in data privacy settlement - court filing


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Facebook Inc may have paid $4.9 billion more than the maximum penalty it faced under a settlement agreement with regulators related to allegations it mishandled user privacy, according to a Wednesday court ruling.
The information made public by a Delaware judge who gleaned it from a “white paper” prepared by a law firm advising Facebook’s board of directors as they debated a proposed $5 billion settlement with the Federal Trade Commission. That agreement also protected Chief Executive Officer Mark Zuckerberg.
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Facebook may have vastly overpaid in data privacy settlement: court filing


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(Reuters) - Facebook Inc may have paid $4.9 billion more than the maximum penalty it faced under a settlement agreement with regulators related to allegations it mishandled user privacy, according to a Wednesday court ruling.
FILE PHOTO: Facebook logo displayed on a mobile phone is seen through a magnifying glass in this picture illustration taken February 9, 2021. REUTERS/Carlos Jasso
The information made public by a Delaware judge who gleaned it from a “white paper” prepared by a law firm advising Facebook’s board of directors as they debated a proposed $5 billion settlement with the Federal Trade Commission. That agreement also protected Chief Executive Officer Mark Zuckerberg. ....

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