US Supreme Court lets lawsuit against Meta over Cambridge Analytica scandal proceed.

The US Supreme Court has allowed a class action lawsuit against Meta (formerly Facebook) to proceed, stemming from the Cambridge Analytica privacy scandal. Investors claim Meta failed to disclose risks related to the misuse of user data by Cambridge Analytica, leading to significant share price drops in 2018. The court dismissed Meta's appeal, letting a lower court ruling stand. Meta has previously paid a $5.1 billion fine and reached a $725 million privacy settlement with users.

November 22, 2024
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