The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Eastern District of New York on behalf of investors who purchased Facebook, Inc. (NASDAQ: FB) securities between November 3, 2016 and October 4, 2021.
According to the Facebook lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Facebook misrepresented its user growth; (2) Facebook knew, or should have known, that duplicate accounts represented a greater portion of its growth than stated, and it should have provided more detailed disclosures as to the implication of duplicate accounts to Facebook’s user base and growth; (3) Facebook did not provide a fair platform for speech, and regularly protected high profile users via its Cross Check/XCheck system; (4) despite being aware of their use of Facebook’s platforms, the Company failed to respond meaningfully to drug cartels, human traffickers, and violent organizations; (5) Facebook has been working to attract preteens to its platform and services; and (6) as a result, Defendants’ public statements were materially false and misleading at all relevant times.
If you suffered a loss in Facebook you have until December 27, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn\'t require that you serve as a lead plaintiff.
To receive more information, please fill out the form.