Bloomberg Law
Nov. 17, 2021, 12:49 AM UTC

Facebook Faces Fraud Suit by Investor Over Whistleblower Expose

Malathi Nayak
Malathi Nayak
Bloomberg News

Meta Platforms, the owner of Facebook, has been accused of causing investor losses by “falsely touting” its ability combat misinformation and concealing its reliance on “toxic content,” as revealed by a whistleblower.

  • Barry Depot’s proposed class-action suit filed Tuesday in San Francisco federal court says the company’s stock dipped significantly after Facebook’s misleading statements were exposed by a whistleblower who turned Facebook’s internal research to U.S. lawmakers and the Wall Street Journal
  • Depot and other class members “have suffered significant damages,” according to the complaint
  • Suit seeks a jury trial and damages to compensate for losses incurred
  • The case ...

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