US Supreme Court to hear Facebook bid to scuttle shareholder lawsuit
WASHINGTON, June 10 (Reuters) - The U.S. Supreme Court agreed on Monday to hear a bid by Meta’sFacebook to scuttle a private securities fraud lawsuit accusing the social media platform of misleading investors in 2017 and 2018 about the misuse of its user data.The justices took up Facebook’s appeal of a lower court’s decision allowing a shareholder lawsuit brought in California and led by Amalgamated Bankto proceed. The court will hear the case in its next term, which begins in October.
WASHINGTON, June 10 (Reuters) - The U.S. Supreme Court agreed on Monday to hear a bid by Meta’s (META.O) Facebook to scuttle a private securities fraud lawsuit accusing the social media platform of misleading investors in 2017 and 2018 about the misuse of its user data.
The justices took up Facebook’s appeal of a lower court’s decision allowing a shareholder lawsuit brought in California and led by Amalgamated Bank (AMAL.O) to proceed. The court will hear the case in its next term, which begins in October.