Summary
- Lower court let suit led by Amalgamated Bank Proceed
- Supreme Court to hear similar Nvidia case on Nov. 13
WASHINGTON, Nov 6 (Reuters) - The U.S. Supreme Court is set on Wednesday to consider a bid by Meta's (META.O), opens new tab 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 will hear arguments in Facebook's appeal of a lower court's decision allowing the 2018 class action led by Amalgamated Bank (AMAL.O), opens new tab to proceed. It is one of two cases coming before them this month - the other one involving artificial intelligence chipmaker Nvidia (NVDA.O), opens new tab - that could lead to rulings making it harder for private litigants to hold companies to account for alleged securities fraud.
Details
- Lower court let suit led by Amalgamated Bank Proceed
- Supreme Court to hear similar Nvidia case on Nov. 13
WASHINGTON, Nov 6 (Reuters) - The U.S. Supreme Court is set on Wednesday to consider a bid by Meta's (META.O), opens new tab 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 will hear arguments in Facebook's appeal of a lower court's decision allowing the 2018 class action led by Amalgamated Bank (AMAL.O), opens new tab to proceed. It is one of two cases coming before them this month - the other one involving artificial intelligence chipmaker Nvidia (NVDA.O), opens new tab - that could lead to rulings making it harder for private litigants to hold companies to account for alleged securities fraud.
