Facebook Faces First Investor Suit Over Cambridge Analytica Data

Facebook Inc. faces its first shareholder suit alleging the company misled investors and failed to disclose it gave third parties, including Cambridge Analytica, access to user data.

Facebook didn’t tell shareholders it violated its own policies by making user data available to third parties without users’ consent, according to a March 20 complaint in the U.S. District Court for the Northern District of California.

A shareholder filed the suit after news reports this week that voter-profiling firm Cambridge Analytica allegedly had access to millions of Facebook users’ data, much of it without user consent, the complaint said. This unauthorized access ...