Facebook asks US supreme court to dismiss fraud suit over Cambridge Analytica scandal
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Facebook has requested the US Supreme Court to dismiss a securities fraud lawsuit related to the Cambridge Analytica scandal. Shareholders accuse the company of misleading them about the misuse of user data.
November 06, 2024 | 6:45 pm
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Facebook, now Meta Platforms, is seeking the US Supreme Court's help to dismiss a fraud lawsuit related to the Cambridge Analytica scandal. Shareholders claim they were misled about data misuse.
The lawsuit pertains to allegations of misleading shareholders about data misuse, which could impact investor confidence and lead to potential financial liabilities. The request to dismiss the case indicates ongoing legal challenges for Meta, potentially affecting its stock price negatively in the short term.
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