Zuckerberg settles lawsuit over Cambridge Analytica scandal
A trial over the long-running case had just begun on Wednesday, with defendants accused of overpaying the US government in 2019 when they engineered a $5 billion settlement for alleged privacy violations in the scandal.
Sources familiar with the matter confirmed the settlement to AFP, without providing details.
The settlement comes the same day that Marc Andreessen, one of Silicon Valley's most influential venture capitalists and a board member of the company now known as Meta, was to take the stand.
Zuckerberg himself was expected in the Wilmington, Delaware courtroom on Monday.
Silicon Valley investor Peter Thiel and former Meta top executive Sheryl Sandberg were also expected to face questioning in the court.
Cambridge Analytica was a political consulting firm that was found to have improperly harvested personal data from millions of Facebook users for targeted political advertising, particularly during the 2016 US election and Brexit referendum.
The scandal thrust Facebook and Zuckerberg in particular into a political firestorm, leading to major regulatory changes and public scrutiny of tech companies' data practices.
The shareholders in the lawsuit alleged that the board members conspired to pay more to the US government in exchange for ensuring that Zuckerberg would not be named personally for wrongdoing in the settlement.
Longtime observers of the company were hoping that the trial would expose inside details of how Zuckerberg and the Facebook executives handled the scandal.
Zuckerberg was under huge pressure at the time from US and European lawmakers amid widespread allegations that Russia and other bad actors were weaponising Facebook to sow chaos around major elections in the West.
The multi-faceted case also alleged insider trading at the time of the events, with board members to be questioned about the timing of their share sales before the scandal was made public.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The South African
4 hours ago
- The South African
New police minister warns against 'shoot to kill' tactics
Newly appointed Police Minister, Professor Firoz Cachalia, has warned against the abuse of police power and the use of deadly force, stating it could lead to tragic incidents like the Marikana massacre or the killing of Andries Tatane during a service delivery protest. Speaking shortly after his swearing-in at the Union Buildings in Pretoria on Friday, Cachalia rejected any 'shoot to kill' approach within the South African Police Service (SAPS). Cachalia, a constitutional law expert and former chair of the National Anti-Corruption Council, said he intends to serve with integrity and independence. 'I'm not driven by ambition or political ambition. I've been given a task, and I'm going to tackle that task without fear or favour, subject, of course, to the President's guidance as a member of Cabinet.' Cachalia faced political pressure and ongoing allegations of corruption within the SAPS but maintained a calm, resolute stance, saying external noise would not distract him. 'I understand the moment the country is in and the awesome weight of the responsibility I carry, along with others in government,' he added. Cachalia said a key part of his agenda would be addressing police conduct and reforming accountability systems. He intends to meet National Police Commissioner General Fannie Masemola on Thursday to discuss operational matters and existing task teams. 'It wouldn't be appropriate to speak before that discussion,' he said. As the outgoing chairperson of the National Anti-Corruption Council, whose term ends this month, Cachalia pledged to advance the council's recommendations in his new role. 'I'm now in a better position than I was as chairperson to take those recommendations forward, and I certainly will,' he said. He plans to bring the council and SAPS leadership together to align on reforms, particularly focusing on whistleblower protection and internal accountability mechanisms. Cachalia also plans to work closely with Justice Minister Ronald Lamola, stating that the fight against corruption must be a joint effort. 'The recommendations impact both of our portfolios,' he said. Cachalia addressed speculation about his status and confirmed, 'Today I was appointed minister, not acting.' Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
![Massive child abuse material seized in Standerton operation [PICS]](/_next/image?url=https%3A%2F%2Fmedia.citizen.co.za%2Fwp-content%2Fuploads%2F2025%2F08%2FMassive-child-abuse-material-seized-in-Standerton-operation.jpg&w=3840&q=100)
![Massive child abuse material seized in Standerton operation [PICS]](/_next/image?url=https%3A%2F%2Fmedia.citizen.co.za%2Fassets%2Fimg%2Fcitizen-icon.png&w=48&q=75){kind=icon}
The Citizen
4 hours ago
- The Citizen
Massive child abuse material seized in Standerton operation [PICS]
A 59-year-old suspect has been arrested for possessing more than 56 000 videos and images of child sexual abuse material in Standerton. Police in Mpumalanga seized more than 56 000 videos and images of child sexual abuse material during an operation in Standerton, leading to one arrest. Operation Bad Vibes is continuing to yield positive results after a 59-year-old man was arrested for possessing child sexual abuse material on Wednesday. The operation is an initiative launched in 2023 between the South African Police Service (Saps), the Department of Homeland Security Investigations (HSI), and the US Embassy. Operation Bad Vibes yields more arrests 15 licensed firearms. Picture: Saps. The operation's goal is to trace and arrest suspects in South Africa linked to accessing, possessing, manufacturing, and distributing child sexual abuse material worldwide. Wednesday's arrest has brought the total number of arrests under the initiative to 16. Mpumalanga police spokesperson Lieutenant Colonel Amanda van Wyk said the suspect was arrested when an integrated team carried out a search-and-seizure warrant on Wednesday. ALSO READ: 'David vs Goliath': Meta agrees to hand over child porn channel creator information Several digital devices were seized. Picture: Saps During the operation, the team also seized 15 licensed firearms and several digital devices. 'While processing the scene, forensic experts uncovered more than 56 000 videos and images depicting child sexual abuse material; the forensic investigation is ongoing,' Van Wyk said. The operation was led by the Serial and Electronic Crime Investigations (SECI) Unit in Mpumalanga, with support from HSI, the US Embassy, the Local Criminal Record Centre (LCRC), and designated firearm officers in Standerton. More than 56 000 videos and images of child sexual abuse material 15 licensed firearms. Picture: Saps. The suspect appeared in the Standerton Magistrate's Court on Thursday. The case has been postponed to 4 August 2025 for a formal bail application. In April, an Eastern Cape father was sentenced to two life terms and an additional 3 713 years behind bars for more than 700 counts of sexual crimes, including exposing his daughter to child pornography. The Gqeberha High Court found the 56-year-old guilty of a slew of heinous offences, including rape, sexual assault, sexual grooming, human trafficking, possession, production, and procuring of child pornography, as well as exposing children and a person living with mental disability to pornography. NOW READ: Meta complies, shuts down Instagram accounts and WhatsApp channels posting sexual content of SA school children
IOL News
6 hours ago
- IOL News
US tech titan earnings rise on AI as economy roils
AI. Global leaders have entered the AI race. Image: File Image: IOL Tech giants Amazon, Apple, Meta and Microsoft this week eclipsed earnings expectations, cashing in on artificial intelligence (AI) while navigating economic waters roiled by US tariffs. "Massive results seen by Microsoft and Meta further validate the use cases and unprecedented spending trajectory for the AI Revolution on both the enterprise and consumer fronts," Wedbush tech analyst Dan Ives said in a note to investors. "We have barely scratched the surface of this 4th Industrial Revolution now playing out around the world led by the Big Tech stalwarts such as Nvidia, Microsoft, Palantir, Meta, Alphabet, and Amazon," Ives added. Amazon reported a 35 percent jump in quarterly profits as the e-commerce giant said major investments in AI technology are paying off. "Our conviction that AI will change every customer experience is starting to play out," said Chief Executive Andy Jassy, pointing to the company's expanded Alexa+ service and new AI shopping agents. But the Seattle-based company's profit outlook for the current quarter came in lower than hoped for, with investors worried that the cost of AI was weighing on the bottom line. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ This was despite a stellar second quarter that exceeded analyst expectations, much like it did for its AI-focused rivals Google, Microsoft and Meta, which posted bumper results for the period. Amazon's net sales climbed 13 percent, signaling that the company was so far surviving impacts of the high-tariff trade policy under US President Donald Trump. Amazon Web Services (AWS), the company's world-leading cloud computing division, led the charge with sales jumping 17.5 percent to $30.9 billion. Its strong performance reflects surging demand for cloud infrastructure to power AI applications, a trend that has benefited major cloud providers as companies race to adopt generative AI technologies. $4 trillion club Shares of Microsoft spiked Thursday following blowout quarterly results, lifting the tech giant into the previously unprecedented $4 trillion club along with Nvidia, another AI standout. The landmark valuation is the latest sign of growing bullishness about an AI investment boom that market watchers believe is still in the early stages -- even as companies like Microsoft plan $100 billion or more in annual capital spending to add new capacity. "Cloud and AI is the driving force of business transformation across every industry and sector," said Microsoft CEO Satya Nadella. At the heart of the results was a stunning surge in Azure, the company's cloud computing platform, which is getting "supercharged" with AI, said Angelo Zino, technology analyst at CFRA Research. Zino attributed "just about all of" Microsoft's recent climb in valuation to AI. Superintelligence? Meta reported robust second-quarter financial results Wednesday, with revenue jumping 22 percent year-over-year as the social media giant continues investing heavily in artificial intelligence. "We've had a strong quarter both in terms of our business and community," said CEO Mark Zuckerberg. "I'm excited to build personal superintelligence for everyone in the world." Zuckerberg has embarked on a major AI spending spree, poaching top researchers with expensive pay packages from rivals like OpenAI and Apple as he builds a team to pursue what he calls AI superintelligence. Hours before the earnings report, Zuckerberg insisted that the attainment of superintelligence -- technology that would theoretically be more powerful than the human brain -- is now "in sight." Meanwhile Apple, which is seen as lagging in the AI race, beat expectations with earnings driven by strong iPhone sales despite US tariffs costing the company $800 million in the recently-ended quarter. Apple expects Trump's tariffs to cost the iPhone maker $1.1 billion in the current quarter. "The results show that Apple's iPhone strategy is working to offset the impact of looming challenges with AI development timelines, tariff pressures, and Google's antitrust issues," said Emarketer tech analyst Jacob Bourne.
