LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Meta Platforms, Inc. f/k/a Facebook, Inc. (“Facebook” or “the Company”) (NASDAQ: FB) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Facebook is the subject of a “60 Minutes” segment aired on October 3, 2021, in which a company whistleblower made multiple allegations against the Company, including that it has misled the market about its efforts to combat misinformation. On October 4, 2021, the Company’s main platform and other platforms it owns including Instagram and WhatsApp suffered a massive outage that continued much of the day. The Company has not provided an explanation for the outage as of market close on the same day. Based on this news, shares of Facebook fell by as much as 6% in intraday trading.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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