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Mark Zuckerberg and current and former directors and officers of Meta Platforms agreed on Thursday to settle claims seeking $8 billion for the damage they allegedly caused the company by allowing repeated violations of Facebook users’ privacy, a lawyer for the shareholders told a Delaware judge on Thursday. The parties did not disclose details of the settlement and defense lawyers did not address the judge, Kathaleen McCormick of the Delaware Court of Chancery. McCormick adjourned the trial just as it was to enter its second day and she congratulated the parties. The plaintiffs’ lawyer, Sam Closic, said the agreement just came together quickly. Billionaire venture capitalist Marc Andreessen, who is a defendant in the trial and a Meta director, was scheduled to testify on Thursday. Shareholders of Meta sued Zuckerberg, Andreessen and other former company officials including former Chief Operating Officer Sheryl Sandberg in hopes of holding them liable for billions of dollars in fines and legal costs the company paid in recent years. The Federal Trade Commission fined Facebook $5 billion in 2019 after finding that it failed to comply with a 2012 agreement with the regulator to protect users’ data. The shareholders wanted the 11 defendants to use their personal wealth to reimburse the company. The defendants denied the allegations, which they called “extreme claims.” Facebook changed its name to Meta in 2021. The company was not a defendant. The company declined to comment. A lawyer for the defendants did not immediately respond to a request for comment. This settlement may bring relief to the parties involved, but its a missed opportunity for public accountability,” said Jason Kint, the head of Digital Content Next, a trade group for content providers. Zuckerberg was expected to take the stand on Monday and Sandberg on Wednesday. The trial was scheduled to run through the end of next week. The case was also expected to include testimony from former Facebook board members Peter Thiel, Palantir Technologies co-founder, and Reed Hastings, co-founder of Netflix. Meta investors alleged in the lawsuit that former and current board members completely failed to oversee the company’s compliance with the 2012 FTC agreement and claim that Zuckerberg and Sandberg knowingly ran Facebook as an illegal data harvesting operation. The case followed revelations that data from millions of Facebook users was accessed by Cambridge Analytica, a now-defunct political consulting firm that worked for Donald Trump’s successful U.S. presidential campaign in 2016. Those revelations led to the FTC fine, which was a record at the time. On Wednesday, an expert witness for the plaintiffs testified about what he called “gaps and weaknesses” in Facebook’s privacy policies but would not say if the company violated the 2012 agreement that Facebook reached with the FTC. Jeffrey Zients, a former board member, testified on Wednesday that the company did not agree to the FTC fine to spare Zuckerberg legal liability, as shareholders allege. On its website, the company has said it has invested billions of dollars into protecting user privacy since 2019. The trial would have been a rare opportunity for Meta investors to see Zuckerberg answer probing questions under oath. In 2017, Zuckerberg was expected to testify at a trial involving a lawsuit by company investors opposed to his plan to issue a special class of Facebook stock that would have extended his control over that company. That case also settled before he took the stand. “Facebook has successfully remade the ‘Cambridge Analytica’ scandal about a few bad actors rather than an unraveling of its entire business model of surveillance capitalism and the reciprocal, unbridled sharing of personal data,” Kint said. “That reckoning is now left unresolved.” Tom Hals, Reuters
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E-Commerce
The Social Security Administration (SSA) will officially stop issuing paper checks. The transition, which aims to improve efficiency, security, and ensure beneficiaries receive their monthly benefits promptly, will come into effect starting September 30, 2025. Beneficiaries should receive electronic funds transfers (EFTs) quicker than the time it takes for a check to arrive in the mail. Electronic payments should also be more secure, with the SSA claiming a paper check is 16 times more likely to be stolen or lost. Meanwhile, the federal government will financially benefit from the change. It costs about 50 cents to mail a paper check, while the EFT should cost under 15 cents. How many people will be impacted by this change? The SSA claims that less than 1% of recipients still get paper checks. As paper checks are phased out for Social Security benefits, individuals can either enroll in direct deposit through their bank or get a Direct Express card. The latter works as a prepaid debit card with just the federal benefits added to it, meaning you don’t need a bank account to use it. A survey by the Federal Deposit Insurance Corporation (FDIC) last year found that about 5.6 million U.S. households were unbanked in 2023. Although the percentage of people without bank accounts is declining overall, certain populations are disproportionately impacted, according to the FDIC. Those include low-income households, Black and Hispanic households, and people who are disabled, have less formal education, or are in single-parent households. The plan to gradually eliminate paper checks actually dates back to 2010, according to the Department of Treasury. However, a lot of recipients may just be hearing about it after the SSA posted an alert on Monday. Comments on that page suggest many are unhappy with the change. What steps are being taken to assist the elderly and physically / visually handicapped paper check recipients?” one commenter stated. “What will SSA do if, on 30 September, there are hundreds of thousands of benefit recipients who have not set up electronic payments? Just not send them their payments? another commenter asked. The SSA claims it is proactively sending notices to beneficiaries who receive paper checks and explaining how to make the change. Their technicians should also be able to help with the transition.
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E-Commerce
If a regular hot girl walk is no longer cutting it, why not add a weighted vest to the mix? While not exactly new, weighted vests are making a strong comeback, especially on TikTok and Instagram, where wellness and fitness creators are touting the benefits of adding a 12-pound vest to your daily strolls. Its my weighted vest era, menopause expert Dr. Mary Claire Haver posted to Instagram. Walk as much as you can in a weighted vest and you will be unrecognizable, one TikTok creator wrote. This is my clubbing, another creator posted. The strobe lights are the stars I see while walking 3 miles in 90 degrees with a 30lb weighted vest on. View this post on Instagram A post shared by Mary Claire Haver, MD, author The New Menopause (@drmaryclaire) From the $30 Zelus vest dominating your For You Page (often linked through influencers Amazon storefronts) to a sleek 20-pound version from Equinox priced at $375, the concept is simple: Adding weight to your walks, runs, or workouts may help boost endurance and stamina. Now fitness and wellness creators are also promoting it as a weight-loss hack, with some claiming theyve shed up to 30 pounds just by incorporating daily walks with the vest. @kymberlychase #fyp #fitness #fitnessmotivation #fitnesstips #fitnessjourney Take My Breath Away – EZI But what does the science say? In one frequently cited study, participants wore weighted vests equal to 11% of their body weight for eight hours per day over three weeks and lost an average of 3.5 pounds. Another study had participants wear vests for 10 hours per day and found no significant weight-loss benefitsthough many did report sore backs. Some influencers have said weighted vests are among the best-kept secrets for increasing bone density. However, most of the studies cited as evidence of weighted vests effectiveness dont actually involve walking, and the ones that do found no difference in the bone health of participants who wore vests compared with those who didnt. The Bone Health & Osteoporosis Foundation doesnt currently endorse weighted vests for bone health, calling the evidence at best “uncertain.” The bottom line: If your goal is to build strength or lose weight, dont ditch your regular resistance training. But if you want to throw on a weighted vest for your walk to the gym, more power to you.
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E-Commerce
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