Particle.news

Download on the App Store

Supreme Court to Hear Facebook's Appeal on Shareholder Fraud Case

The case centers on allegations that Facebook misled investors about data misuse following the Cambridge Analytica scandal.

Image
An employee of the Internet company Facebook walks through the courtyard of the company campus in Menlo Park, California.
Image
Image

Overview

  • Facebook seeks to overturn a lower court ruling that revived the shareholder lawsuit.
  • The lawsuit claims Facebook downplayed the risk of data breaches despite knowing about the Cambridge Analytica incident.
  • The Supreme Court's decision could impact disclosure requirements for public companies.
  • Facebook has already paid significant penalties related to the Cambridge Analytica breach.
  • The court will hear the case in its next term starting in October.