Meta's Legal Battle Over Cambridge Analytica Scandal Heads To Supreme Court
Portfolio Pulse from Michael Juliano
The U.S. Supreme Court will consider a lawsuit against Meta Platforms (NASDAQ:META) related to the Cambridge Analytica scandal. The lawsuit alleges that Meta misled investors about the misuse of user data, leading to significant share price drops in 2018. If the case proceeds, Meta could face a $2 billion settlement.
June 10, 2024 | 8:47 pm
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The U.S. Supreme Court will review a lawsuit against Meta Platforms related to the Cambridge Analytica scandal. The lawsuit claims Meta misled investors about data misuse risks, leading to significant share price drops in 2018. A potential $2 billion settlement is at stake.
The Supreme Court's decision to review the lawsuit introduces legal uncertainty for Meta, which could negatively impact investor sentiment. The potential $2 billion settlement adds financial risk, likely leading to short-term downward pressure on the stock price.
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