Securities class action filed against Facebook relating to data provided to Cambridge Analytica

Posted on: March 27th, 2018 by Steve Larson

Shareholders of Facebook stock sued the social media giant alleging that Facebook made misleading claims about its use of user data, which blew up this month when its alleged relationship to a Trump-linked data firm was made public. Shares of Facebook’s stocks toppled more than $20 over two days earlier this week after the New York Times and the Observer of London reported that Facebook did not tell users that their private data was being harvested by Cambridge Analytica, a political data firm with ties to President Donald Trump’s 2016 campaign.

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