Investors, Facebook Agree On Risk Question, Disagree On What High Court Should Do

(September 25, 2024, 1:04 PM EDT) -- WASHINGTON, D.C. — Meta Platforms Inc., formerly Facebook Inc., investors tell the U.S. Supreme Court in a Sept. 24 respondent brief that they agree with Facebook as to the answer to the limited question before the justices regarding disclosure of immaterial past risks but argue that the Ninth Circuit U.S. Court of Appeals’ ruling should be upheld as it was correct when it opined that Facebook issued misleading statements about the risk of potential misuse of user data because the company was aware that it had already occurred....