Facebook CEO Mark Zuckerberg accused of insider trading

MENLO PARK, Calif. (KGO) -- CEO Mark Zuckerberg and other top Facebook executives have been hit with a complaint accusing them of insider trading.

The suit also blames them for the privacy scandals that have rocked Facebook and its stock value since 2016.

RELATED: Zuckerberg promises 'complete overhaul' of Facebook geared towards user privacy at F8

The shareholder complaint was filed today in Delaware. It also names Facebook Chief Operating Officer Sheryl Sandberg and four other Facebook board members, including PayPal founder Peter Thiel.

A Facebook spokesperson issued a statement that the "lawsuit is without merit."

See more stories on Facebook.
Copyright © 2021 KGO-TV. All Rights Reserved.