Meta Platforms settles a derivative litigation case in the Court of Chancery of Delaware.
The settlement involves Co-Lead Plaintiffs, Plaintiffs, Defendants, and nominal defendant Meta Platforms, Inc.
The Stipulation and Agreement of Settlement, Compromise, and Release outlines the terms and conditions of the settlement.
Settlement Terms
The settlement resolves claims asserted in the Action and releases the Parties from the Released Claims.
Previous Investigations
Meta Platforms faced investigations, controversies, and litigations related to privacy practices and disclosures, including the 2012 Consent Order by the FTC.
Derivative Actions
Several derivative actions were initiated against Meta Platforms, leading to the Consolidated Section 220 Action.
- The settlement brings closure to the ongoing legal disputes and provides resolution to the parties involved.
- Meta Platforms aims to put the litigation behind and focus on business operations and growth strategies.
The settlement marks a significant step towards resolving legal challenges for Meta Platforms, enhancing investor confidence in the company's stability and governance.