Reported about 12 hours ago
The US Supreme Court has dismissed Meta's appeal regarding a lawsuit claiming the company misled shareholders about the Cambridge Analytica data breach scandal. This decision exposes Meta to a potential multibillion-dollar settlement as investors allege that misleading disclosures inflated stock prices before two significant drops in 2018 resulted in a loss of over $200 billion in market value. The court's dismissal leaves the company's legal standing vulnerable, despite its claims that the allegations are baseless.
Source: YAHOO