Facebook overpaid FTC fine to safeguard Zuckerberg, lawsuit claims

According to Forbes, Facebook paid US$5bil (RM20.94bil) to the FTC to clear Zuckerberg while the estimated fine would’ve been only around US$100mil (RM418.80mil). — AFP

Facebook Inc allegedly paid more than US$5bil (RM20.94bil) to the US Federal Trade Commission to keep the organisation from coming after the CEO Mark Zuckerberg in the 2018 privacy scandal, according to two lawsuits filed by shareholders.

The lawsuit, filed in the Delaware Court of Chancery, was made public courtesy of the CEO of Digital Content Next, Jason Kint, who called it the “mother of all lawsuits”.