Facebook Facing Supreme Court Showdown: Meta Seeks to Dismiss Shareholder Lawsuit on Misinformation, User Growth

The Supreme Court has agreed to hear a case involving Facebook (now known as Meta) and a group of shareholders who allege the company misled them about user growth and its efforts to fight misinformation.

The lawsuit, which seeks billions of dollars in damages, accuses Facebook of violating federal securities law by failing to disclose important information about user engagement and its efforts to combat harmful content.

Facebook had previously asked the Supreme Court to dismiss the case, arguing that the shareholders lacked standing to sue. However, the high court decided to hear the case, setting up a potentially significant ruling on corporate transparency and accountability. #MetaCorporateTransparencyAccountabilityTest