Facebook class action News

Judge Allows Investors’ Class Action Against Facebook, Underwriters Over IPO

Facebook Inc. and the underwriters of its May 2012 initial public offering must face a class-action lawsuit by investors claiming the company misled them about its financial condition, a judge ruled. U.S. District Judge Robert Sweet in Manhattan rejected arguments …

A Wary Supreme Court Allows Facebook’s $9.5M Privacy Settlement

The U.S. Supreme Court on Monday let stand Facebook Inc.’s $9.5 million class action settlement over allegations the social networking company’s defunct “Beacon” service violated its members’ privacy rights. Although the court declined to hear the case, Chief Justice John …