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Facebook may have paid significantly in settling data confidentiality: suing

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Facebook may have paid $ 4.9 billion (approximately RR 35,680 crore) more than the maximum penalty it faced under a settlement agreement with regulators related to allegations that it violated users’ privacy, according to the court. answer.

The information was made public by a Delaware judge, who took it from a “white paper” prepared by a consulting firm Facebook while discussing the proposed $ 5 billion agreement (approximately Rs 36,400) with Federal Trade Commission. This agreement also protects the CEO Mark Zuckerberg.

Vice Chancellor Joseph Slices of the Chancellery cited an article by Gibson Dunn’s lawyers in a ruling by which Facebook directed documents to shareholders trying to determine whether Facebook had paid overpaid to protect Zuckerberg.

“The documents already submitted do not give an idea why Facebook would pay more than (obviously) its maximum exposure for settling a claim,” Slights said in the decision. Shareholders, he said, “had the right to question whether internal communication between Facebook trustees could shed light on the board’s thinking in this regard.”

Facebook did not respond immediately to a request for comment.

The July 2019 deal resolved allegations that Facebook improperly handled user privacy. The company does not recognize illegal actions.

Sights said Facebook faces a maximum penalty of about $ 104 million (approximately 760 kroner), according to Gibson Dunn.

The FTC did not immediately respond to a request for comment by email.

Joel Fleming, a Facebook shareholder’s lawyer, told Slights during a hearing last year that before filing a lawsuit over the FTC agreement, they wanted to know: “Did anyone say, ‘Go, ask the FTC, would you take more little money if Mr Zuckerberg is personally responsible ‘? “

Slight refused to order the company to hand over documents that Facebook said were protected by the privilege of a client lawyer, in part because the judge said shareholders could obtain insights from unprivileged electronic communications he ordered to be disclosed.

© Thomson Reuters 2021


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