Meta Investor Suit Over Data Scandals Revived on Appeal (1)

Meta Platforms Inc. must face investors’ securities fraud claims tied to data-harvesting scandals involving political consulting firm Cambridge Analytica and other apps, a US appeals court said Wednesday.

The US Court of Appeals for the Ninth Circuit’s decision revives a suit that the social media company defeated in the lower court.

The investors sued then-Facebook Inc. in 2018 over statements by it and executives “assuring users that they fully controlled their data on Facebook and that no third party would access the data without their consent,” Judge M. Margaret McKeown said. Facebook’s stock took two significant dives in the wake ...