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Meta misled investors about Cambridge Analytica risks, class action alleges

( March 20, 2018, 01:01 GMT | Official Statement) -- MLex Summary: Meta is accused of violating US federal securities law by investors who say they suffered financial damages by the Facebook parent company’s insufficient disclosure of risks associated with the Cambridge Analytica data scandal. Facebook’s abuse of user data and public statements about the scandal amounted to “materially false and misleading statements regarding the Company’s business, operational and compliance policies,” the class action complaint filed in the Northern District of California alleges.See attached document....

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