Meta Beats Claim Over Red Flags in Instagram, WhatsApp Buy (2)

Meta Platforms Inc.’s officers and board on Wednesday escaped claims they ignored red flags and attracted the attention of US regulators with its acquisitions of Instagram and WhatsApp.

Vice Chancellor J. Travis Laster of Delaware’s Chancery Court dismissed a pension fund’s lawsuit alleging of wrongdoing by Facebook’s parent.

“It’s a difficult complaint to follow,” Laster said, ruling from the bench in a teleconference with attorneys for Meta and the Southeastern Pennsylvania Transportation Authority, the pension fund challening the deal.

The pension fund alleged Facebook ignored red flags that led to a “monopolistic business model” to block ...