Ohio AG sues Facebook for misleading the public

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Ohio Attorney General Dave Yost filed a lawsuit against Facebook’s parent company Meta, alleging it misled the public about the potential harm it caused to its products.

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What are you sayingYoast sued the Ohio Public Employees Retirement System (OPERS) and Facebook investors on behalf of investors, citing Wall Street Journal reporting and internal documents leaked by former employee Frances Haugen. release From Yoast’s office on Monday.

why it matters: This is the latest legal defense against META, which is facing multiple federal, state and international investigations. It comes on the heels of Haugen testifying to a US Senate subcommittee and European Parliament About Facebook’s internal research and decision making.

  • Facebook knowingly made false statements about the safety, security and privacy of its platform, The lawsuit, filed on Friday, argues, It said those disclosures undermined the value of Facebook’s stock, costing investors and operators more than $100 billion.
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What are they saying: “Facebook said it is tracking down our children and eliminating online trolls, but is actually creating misery and division for not-for-profit,” Yost said in the release. “We are not Mark Zuckerberg’s people, we are the product and we are being used against each other because of greed.”

  • The lawsuit seeks to recover the lost stock price and demands that Facebook make changes to guarantee not to mislead the public.
  • A spokesperson for Meta said the lawsuit is “without merit” and the company will defend itself “vigorously.” per CNBC.

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