According to a court ruling, Facebook may have paid US$4.9 billion (approximately Rs 35,680 crore), which is the highest fine facing a settlement agreement with regulators. The accusation involves allegations related to improper handling of user privacy. .

Information disclosed by a judge in Delaware. He collected information from a “white paper” prepared by a law firm. The white paper is a proposed $5 billion (approximately Rs 36,400) for Facebook’s board of directors and the Federal Trade Commission. Reconciliation and debate. The agreement also protects CEO Mark Zuckerberg.

The vice president of the court, Joseph Slights, cited the ruling of lawyer Gibson Dunn, which instructed Facebook to hand over the document to an attempt to determine whether Facebook paid too much to protect Zuckerberg. Shareholders.

Slights said in the ruling: “The documents that have been generated cannot explain why Facebook has to pay more than its (obviously) maximum risk to settle the claim.” He said that shareholders “have the right to question the internal relations between Facebook trustees. Can the communication clarify the board’s thoughts in this regard.”

Facebook did not immediately respond to a request for comment.

The July 2019 transaction resolved allegations that Facebook mishandled user privacy. The company does not admit wrongdoing.

Slights said that, according to Gibson Dunn’s paper, Facebook faces a maximum fine of about 104 million U.S. dollars (about 7.6 billion rupees).

The FTC did not immediately respond to an emailed request for comment.

Facebook shareholder lawyer Joel Fleming told Sears at a hearing last year that before they file a lawsuit on the FTC settlement, they want to know: “Someone said,’Go ask the FTC. , If Mr. Zuckerberg, would you spend less money? Personal responsibility’?”

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Slights refused to order the company to hand over documents that Facebook said were protected by attorney-client privilege, partly because the judge said shareholders could gain insights from the unprivileged electronic communications he ordered to be published.

Thomson Reuters 2021 ©


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