Zuckerberg Sued Over Privacy Scandals, Alleged Insider Trades (1)

Mark Zuckerberg and Facebook Inc.‘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.

The shareholder complaint was filed May 1 in Delaware Chancery Court against Zuckerberg, Sheryl Sandberg, Peter Thiel, and three other Facebook board members. It comes about a week after the company announced it expected to pay a fine of up to $5 billion for violating a Federal Trade Commission consent decree requiring better privacy safeguards.

The 193-page filing claims Zuckerberg ...