Governance & Derivative

Meta Platforms, Inc. (NasdaqGS: META)

Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Meta Platforms, Inc. (the “Company”) (NasdaqGS: META).  

In February 2022, the Company was sued in federal court by a group of online adult entertainers alleging that the Company had demoted or deleted their accounts and posts on Instagram and Facebook, and also internally listed them as “dangerous individuals or organizations,” a designation generally reserved for removing “terrorist content,” which resulted in reduced click-throughs and substantially reduced visibility of their content, in order to reduce competition with the OnlyFans (“OF”) online adult platform, for which the Company’s employees allegedly received bribery payments from OF. Recently, the court presiding over that case denied the Company’s motion to dismiss, allowing the case to move forward. 

KSF’s investigation is focusing on whether Meta’s officers and/or directors breached their fiduciary duties to Meta’s shareholders or otherwise violated state or federal laws. 

If you have information that would assist KSF in its investigation, or have been a long-term holder of Meta shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), or fill out the form on this page.