US Supreme Court to hear Facebook bid to scuttle shareholder lawsuit

Amalgamated Financial

10/06/2024 14:30

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.
    

 (Reporting by John Kruzel; Editing by Will Dunham)
 ((John.Kruzel@thomsonreuters.com;))