U.S. Supreme Court Dismisses Meta's Appeal, Company Faces Amalgamated Bank's Lawsuit Over Cambridge Analytica Scandal

Nov 22, 2024, 03:33 PM

The U.S. Supreme Court dismissed an appeal by Meta Platforms Inc., leaving the company to face a lawsuit accusing it of misleading shareholders about the data-harvesting scandal involving Cambridge Analytica. The lawsuit, led by Amalgamated Bank, alleges that Meta failed to disclose the risks associated with the misuse of millions of users' data by the political consulting firm in 2015. The Supreme Court's decision not to hear the case means that a lower court's ruling allowing the lawsuit to proceed remains in place.