Meta victorious as US court dismisses lawsuits

Meta has come out victorious, successfully defending its child safety measures against shareholder litigation alleging inadequate disclosure.

The ruling reaffirms the company’s commitment to safeguarding young users and underscores the efficacy of its measures.

Earlier on October 16, 2024, the Diaspora Digital Media (DDM), reported that a federal judge in California, Yvonne Gonzalez ruled that Meta must face lawsuits filed by over 30 US states, alleging the platform contributed to the growing teen mental health crisis.

However on Tuesday, a US federal judge, Charles Breyer dismissed the lawsuit accusing Meta Platforms and CEO Mark Zuckerberg of misleading shareholders about safeguarding children on Facebook and Instagram.

The lawsuit filed by plaintiff Matt Eisner, claimed that Meta and Zuckerberg made inadequate disclosures about the severity of sexually explicit content and child exploitation on their platforms.

Judge Charles in San Francisco ruled on Tuesday that Eisner failed to show that shareholders suffered economic losses due to Meta’s alleged disclosures.

Breyer ruled that federal securities law does not obligate Meta Platforms to disclose the extent of sexually explicit content or child exploitation on its platforms.

Additionally, the company is not required to provide a comprehensive list of child protection strategies it opted not to implement.

According to the report, the ruling is a significant victory for Meta, as it dismisses claims that the company misled investors about its efforts to safeguard children on its platforms.

Judge Breyer in his ruling noted that Eisner’s position would have compelled Meta to adopt a self-contradictory stance, promoting rejected tools and highlighting failures while downplaying successes.

The judge concluded, “this was not a necessary disclosure obligation.”

Eisner’s legal counsel and attorneys representing Meta and Zuckerberg did not respond to requests for comment immediately.

Requests

The lawsuit sought injunctive relief to prevent Meta Platforms, Inc. from holding its 2024 annual meeting until its proxy statement was revised.

Additionally, it sought to nullify election results if the meeting proceeded without revisions.

It also requires Meta and its CEO, Mark Zuckerberg, to reimburse plaintiff Eisner’s legal expenses.

Earlier in June, the District Judge denied the request to enjoin that the platform’s annual meeting, ruling that the company’s assurances regarding children’s safety in the proxy statement were largely aspirational and insufficient to support the lawsuit’s allegations.

The court dismissed the case with prejudice, thereby permanently barring plaintiff Eisner from re-filing the lawsuit against defendants Meta Platforms, Inc. and Mark Zuckerberg.

Meta Platforms remains entangled in ongoing litigation, as multiple state attorneys general have initiated lawsuits alleging that the company’s platforms are designed to perpetuate addiction among minors.

Numerous legal actions have been initiated by minors, their guardians, and educational institutions, alleging harm resulting from social media addiction on platforms operated by Meta.

Also, similar claims have been filed against other prominent digital application providers, including TikTok and Snapchat.

Know more about Meta

History of Meta

The former Facebook Inc., was founded in 2004 by Mark Zuckerberg, Andrew McCollum, Dustin Moskovitz, Chris Hughes, and Eduardo Saverin.

Meta builds technologies that help people connect, find communities and grow businesses.

 Products and Services

Its products include Facebook, a social networking platform, Instagram, a photo and video-sharing platform, WhatsApp, a messaging app, Threads, a messaging app.

Meta AI, an artificial intelligence assistant, Meta Quest, a virtual reality product and Meta Horizon, a virtual reality platform are all Meta’s products and services.

 Mission of Meta

The platform’s mission is to give people the power to build community and bring the world closer together.

 Values

The former Facebook Inc.s are guided by five core principles: Be Bold, Focus on Long-Term Impact, Be Open, Build Awesome Things, and Support Each Other.

 Leadership

The company’s leadership team is headed by Mark Zuckerberg as Chairman and CEO, alongside Sheryl Sandberg as Chief Operating Officer (COO) and David Wehner as Chief Financial Officer (CFO).

 Acquisitions

The platform has made several strategic acquisitions, including Instagram in 2012, WhatsApp and Oculus VR in 2014, and Giphy in 2020.

Controversies

Facebook Inc. has faced numerous controversies including concerns over data privacy, allegations of election interference, the spread of misinformation and disinformation, and criticism of its moderation policies.

 Future Plans

The media technology’s future plans include expanding virtual reality capabilities, developing cutting-edge artificial intelligence technologies, enhancing privacy and security measures, and increasing transparency and accountability.

For Diaspora Digital Media Updates click on Whatsapp, or Telegram. For eyewitness accounts/ reports/ articles, write to: citizenreports@diasporadigitalmedia.com. Follow us on X (Fomerly Twitter) or Facebook