Facebook Inc and its chief executive Mark Zuckerberg on Thursday won dismissal o...
NEW YORK - Facebook Inc and its chief executive Mark Zuckerberg on Thursday won dismissal of an investor lawsuit accusing them of deceiving investors about the likely impact of a privacy breach on its stock price, though the investors will be have a chance to refile their case.
The investors focus on a privacy breach, first reported in December 2015, that allowed Cambridge Analytica, a British political consulting firm, to access data for an estimated 87 million Facebook users. The investors claimed in their lawsuit that Facebook and its executives made dozens of statements downplaying the effect that the Cambridge Analytica leak and related user privacy issues would have on its stock price.
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