Facebook, Nvidia ask US Supreme Court to spare them from securities fraud suits

The U.S. Supreme Court is set to consider bids by two tech giants – Meta’s Facebook and Nvidia – to fend off federal securities fraud lawsuits in separate cases that could make it harder for private litigants to hold companies to account.

After a trio of Supreme Court rulings in June that weakened federal regulators – including the Securities and Exchange Commission that polices securities fraud – the justices may now be poised to rein in the power of private plaintiffs to enforce federal rules aimed at punishing corporate misconduct.