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Case tracker · Consumer & investor deception

SEC v. Facebook, Inc. (investor-disclosure settlement)

Consumer & investor deception
Settled
Settled Jul 24, 2019 ($100M)
AI system / company
Meta/Facebook
Jurisdiction
United States (federal)
Court / regulator
U.S. Securities and Exchange Commission
Status
Settled

What happened

Facebook agreed to pay $100 million to settle SEC charges that it misled investors regarding the risk of misuse of user data in connection with the Cambridge Analytica scandal, by presenting the misuse of data as merely a hypothetical risk when the company knew a third party had actually misused user data.

About consumer & investor deception cases

Misrepresentations to consumers or investors about data practices, product safety, or platform risks.

Sources

Attorneys who handle consumer & investor deception cases

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