US Supreme Court to hear Facebook bid to escape securities fraud suit

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Supreme Court is set on Wednesday to consider a bid by Meta's Facebook to scuttle a federal securities fraud lawsuit brought by shareholders who accused the social media platform of misleading them about the misuse of its user data.

WASHINGTON : The U.S.

Securities and Exchange Commission in 2019 brought an enforcement action against Facebook over the matter, which the company settled for $100 million.

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Article Details

Category: EconomyBusiness

Markets: Singapore

Topics: Facebook Investors Analytica Federal Supreme Risk Fraud Court Securities Data Cambridge

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-06 @ 19:03:29 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 593 words

Reading Time: 4 minutes read

Sentences: 24 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 23446669

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About Channel News Asia

Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

Update Frequency: 48 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 42 minutes ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

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Publisher ID: #27

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