Meta Investor Suit Over Proper Disclosure Troubles Supreme Court (1)

The US Supreme Court had difficulty deciding what companies must say about past events when warning investors about future risks, in a case dealing with fallout from an unauthorized misuse of Meta Platforms Inc.'s Facebook user data.

Several justices were concerned Wednesday that allowing the multi-billion-dollar investor suit against Facebook’s parent to continue would dramatically expand business liability, and could eventually lead to over-disclosure.

It would be giving investors a “blank check,” Chief Justice John Roberts said.

But Justice Neil Gorsuch said the entire court was concerned about companies purposely misleading investors through half-truths.

Investors sued over 2016 Facebook SEC ...