​​​​​​​Meta Investors Sue Over Alleged Mental Health Concerns

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email

By Hailey Konnath (November 22, 2021, 9:59 PM EST) — Investors in Facebook and Instagram parent company Meta Platforms Inc. hit the social media giant with a proposed securities class action Monday, saying recently leaked internal documents show the company knew its products were harmful to the mental health of young people but hid that from shareholders.

According to the complaint, a slew of concerning revelations from internal documents leaked by whistleblower Frances Haugen tanked the price of Facebook’s stock in October. The company was trading at about $376 per share in September and dropped to $312 per share by the end of October, per the suit, which was lodged in California…

Read the article