Facebook Beats Cambridge Analytica Stock Suit For Good

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By Dave Simpson (December 21, 2021, 7:08 PM EST) — A California federal judge dismissed a putative stock fraud class action against Facebook related to the Cambridge Analytica scandal, ruling Monday that because the investors failed to fix the problems he laid out in his two previous dismissals, they aren’t entitled to amend their complaint.

U.S. District Judge Edward J. Davila said that, among other things, shareholders failed to establish that CEO Mark Zuckerberg and executives Sheryl K. Sandberg and David M. Wehner knew that Cambridge Analytica was using misappropriated data after Facebook obtained certifications from the controversial consulting firm that it deleted the data.

“This court has previously dismissed two…

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