Class Action
Aug. 21, 2023
Judge mulling Meta request to toss securities action
The plaintiffs say that Meta misled investors about harmful effects of social media use, as well as its commitment and attempts to curb misinformation and other negative content.
Meta Platforms Inc. asked a federal judge to dismiss a securities class action, arguing that general statements committing to enforce its community and content rules for all users cannot be challenged as false by investors because they are nonactionable as a matter of law.
The social media giant added in a motion to dismiss on Thursday that the plaintiffs are relying on internal documents from a series of Wall Street Journal articles in l...
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