U.S. Supreme Court Agrees To Hear Bid By Facebook To Scuttle Securities Fraud Lawsuit Brought By Shareholders
Portfolio Pulse from Benzinga Newsdesk
The U.S. Supreme Court has agreed to hear Facebook's (now Meta Platforms Inc.) bid to dismiss a securities fraud lawsuit brought by shareholders. The lawsuit alleges that Facebook misled investors about the potential impact of its user data privacy practices on its stock price.
June 10, 2024 | 1:31 pm
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The U.S. Supreme Court's decision to hear Meta's bid to dismiss a securities fraud lawsuit could have significant implications for the company's stock price. The lawsuit alleges that Meta misled investors about the impact of its data privacy practices.
The Supreme Court's decision to hear the case introduces legal uncertainty for Meta, which could negatively impact investor sentiment and the stock price in the short term.
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