US Supreme Court hears Facebook bid to escape securities fraud case

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The story "US Supreme Court hears Facebook bid to escape securities fraud case" was covered 2 weeks ago by Business Standard, a news publisher based in India.

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US Supreme Court hears Facebook bid to escape securities fraud case - Business Standard

Quick Summary:

They claimed the company unlawfully withheld information from investors about a 2015 data breach involving British political consulting firm Cambridge Analytica that affected more than 30 million Facebook users.

Shanmugam replied, "We don't think that a reasonable person would draw that inference from a statement of this variety.

But conservative Justice Clarence Thomas pressed Kannon Shanmugam, the lawyer for Facebook, on whether the company's risk statement was misleading.