SAN DIEGO, Nov. 05, 2021 (GLOBE NEWSWIRE) — Shareholder Rights Law Firm Johnson Fistel, LLP, is investigating potential claims against Meta Platforms, Inc. f/k/a Facebook, Inc. (“Facebook” or “the Company”) (NASDAQ: FB)for violations of federal securities laws.
Recently a class action complaint was filed against Facebook. According to the Complaint, the Company made false and misleading statements to the market. Facebook misled the market regarding its user growth. The Company knew or should have known that duplicate accounts represented a considerable portion of its purported growth and failed to disclose the implications of duplicate accounts on its business and revenue growth. The Company could not maintain a fair platform for all users, including protecting high-profile users with the “Cross Check/XCheck” system. The Company failed to take effective action against bad actors on its platform, such as drug cartels, human traffickers, and violent criminals. According to the lawsuit, the Company’s public statements were false and materially misleading.
If you have information that could assist in this investigation, including past employees and others, or if you are a Facebook shareholder and are interested in learning more about the investigation, please contact Jim Baker (
[email protected]
) at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit
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Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]
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