Supreme Court allows multibillion-dollar class action to proceed against Meta WSOC TV [Video]

WASHINGTON — (AP) — The Supreme Court is allowing a multibillion-dollar class action investors’ lawsuit to proceed against Facebook parent Meta, stemming from the privacy scandal involving the Cambridge Analytica political consulting firm.

The justices heard arguments in November in Meta’s bid to shut down the lawsuit. On Friday, they decided that they were wrong to take up the case in the first place.

The high court dismissed the company’s appeal, leaving in place an appellate ruling allowing the case to go forward.

Investors allege that Meta did not fully disclose the risks that Facebook users’ personal information would be misused by Cambridge Analytica, a firm that supported Donald Trump ‘s first successful Republican presidential campaign in 2016.

Inadequacy of the disclosures led to two significant price drops in the price of the company’s shares in 2018, after the public learned about the extent of the privacy scandal, the investors say.

Meta spokesman Andy Stone said the …