November 22, 2024 – 7:28 AM PST
WASHINGTON (Reuters) – The U.S. Supreme Court sidestepped on Friday a decision on whether to allow shareholders to proceed with a securities fraud lawsuit accusing Meta’s (META.O) Facebook of misleading investors about the misuse of the social media platform’s user data.
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The justices, who heard arguments in the case on Nov. 6, dismissed Facebook’s appeal of a lower court’s ruling that had allowed a 2018 class action led by Amalgamated Bank (AMAL.O) to proceed. The Supreme Court opted not resolve the underlying legal dispute, determining that the case should not have been taken up. Its action leaves the lower court’s decision in place.
The court’s dismissal came in a one-line order that provided no explanation.
The Facebook dispute was one of two cases to…
