Zuckerberg sued over privacy scandals, alleged insider trades

Mark Zuckerberg and ‘s other top executives have been hit with a lawsuit accusing them of insider trading and blaming them for the privacy scandals that have rocked the social media giant and its stock value since 2016. According to the complaint, Zuckerberg, Sandberg, and another board member also violated securities laws and their duties to shareholders by cashing out “massive amounts” of their personal Facebook stock while urging investors to vote against corporate governance measures aimed at enhancing privacy oversight. In fact, Zuckerberg was later forced to admit Facebook gave “dozens of companies” access to private user data, it says.

Source: news.bloomberglaw.com