Supreme Court to Hear Case About Facebook Data-Harvesting Incident

Published on June 10, 2024

The Supreme Court on June 10 agreed to look at a large shareholder lawsuit that claims Facebook parent Meta Platforms Inc. deceived investors regarding a data-harvesting controversy that involved Cambridge Analytica, a political consulting firm. The case involves a private securities fraud-related class action arising out of the now-defunct UK-based Cambridge Analytica’s “wrongful acquisition and misuse of Facebook user data,” according to Facebook’s filing with the nation’s highest court. Meta agreed in December 2022 to pay out $725 million to settle a class-action proceeding that said the company permitted third parties, including Cambridge Analytica, to gain access to as many as 87 million users’ personal information. The incident was made public in 2018....

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