No Actionable Misstatement Leads To Dismissal Of Facebook Investor Claims

Mealey's (September 30, 2019, 1:55 PM EDT) -- SAN JOSE, Calif. — A federal judge in California on Sept. 25 ruled that lead plaintiffs in a consolidated securities class action against social media networking website Facebook Inc. and several of its senior executives failed to sufficiently plead an actionable misrepresentation or omission concerning 35 of 36 alleged misstatements in violation of federal securities laws made concerning the company’s privacy and data protection practices (In re Facebook Inc. Securities Litigation, No. 18-1725, N.D. Calif., 2019 U.S. Dist. LEXIS 166027)....