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U.S. Supreme Court,
Securities,
9th U.S. Circuit Court of Appeals

Nov. 25, 2024

Supreme Court allows securities case against Meta to move ahead

The one-sentence opinion was unsigned and quickly followed oral arguments in the case on Nov. 6, in which justices voiced skepticism of arguments that the shareholders' claims should be dismissed.

In a rare decision affirming the 9th U.S. Circuit Court of Appeals, the U.S. Supreme Court on Friday ruled that an appeal by Meta Platforms Inc. of a decision reviving a securities fraud lawsuit against the company was improvidently granted.

The one-sentence opinion was unsigned and quickly followed oral arguments in the case on Nov. 6, in which justices voiced skepticism of Paul, Weiss, Rifkind, Wharton & Garrison LLP partner Kannon K. Shanmugam's argument that the share...

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