An investor suit over privacy scandals involving political consulting firm Cambridge Analytica and other apps shouldn’t have been reinstated, Meta Platforms Inc. said Monday in asking the US Supreme Court to take the case.
The US Court of Appeals for the Ninth Circuit deepened two circuit splits on issues of companies’ risk disclosures and the cause of stock-price declines, and its ruling should be reversed, Meta said in its petition for review.
The Ninth Circuit panel concluded over a partial dissent that news articles in March 2018 about the company, then called Facebook Inc., “somehow caused two substantial stock drops ...
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