Supreme Court to take up Meta suit linked to Cambridge Analytica breach

The Supreme Court on Monday agreed to consider a shareholder lawsuit that accuses Meta Platforms, the company behind Facebook, of misleading investors about the data harvesting controversy that involved political consulting firm Cambridge Analytica.

The justices agreed to decide whether a federal appeals court was in the wrong to allow the lawsuit to go forward based on allegations that the company inflated share prices by failing to disclose the level of risk to user data. The court’s decision in the case could determine how much disclosure of damaging information on Securities and Exchange Commission forms is adequate.