Meta's legal team seeks to dismiss a shareholder lawsuit alleging company leaders, including Zuckerberg, were aware of human trafficking and child exploitation on Facebook/Instagram but failed to act.
Meta's legal team is seeking to dismiss a shareholder lawsuit alleging that the company's leaders, including founder Mark Zuckerberg, were aware of human trafficking and child sexual exploitation on Facebook and Instagram platforms but failed to address the issue. The lawsuit, filed by several investment funds, claims that Meta has already suffered harm, including drops in its share price and market capitalization, massive legal defense costs, and reputational damage. Meta's attorneys argue that the company's leaders' alleged conduct has not resulted in "corporate trauma" as required by Delaware law and that the lawsuit's claims are based on speculation.
March 05, 2024
42 Articles