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

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The story "US Supreme Court to hear Facebook bid to escape securities fraud suit" was covered 2 weeks ago by Channel News Asia, a news publisher based in Singapore.

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US Supreme Court to hear Facebook bid to escape securities fraud suit - Channel News Asia

Quick Summary:

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.