US Supreme Court hears Facebook bid to escape securities fraud case

The U.S. Supreme Court grappled on Wednesday over a bid by Meta’s Facebook to scuttle a federal securities fraud lawsuit brought by shareholders who accused the social media platform of misleading them about the misuse of its user data.

The justices heard arguments in Facebook’s appeal of a lower court’s decision allowing the 2018 class action led by Amalgamated Bank to proceed.

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