Bloomberg Law
March 22, 2021, 2:52 PMUpdated: March 22, 2021, 3:45 PM

Facebook Wins Bid to Toss Shareholder’s Lawsuit Over Diversity (1)

Andrew Ramonas
Andrew Ramonas
Corporate Disclosure Reporter

Facebook Inc. has fought off an investor’s lawsuit claiming the company lost advertisers over concerns about its commitment to diversity.

Magistrate Judge Laurel Beeler of the U.S. District Court for the Northern District of California on March 19 approved Facebook’s request to dismiss shareholder Natalie Ocegueda’s case.

Ocegueda’s suit alleged Facebook’s board was at fault for losing more than 180 advertisers, including Unilever PLC and North Face Inc., over the company’s handling of what they viewed as hate speech. She highlighted Facebook’s decision not to censor President Donald Trump’s “When the looting starts, the shooting starts” post during Black Lives ...

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