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.
- 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.
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