Several pension and mutual funds that own shares of Meta (known as extremist and banned in Russia) have sued the company and its top executives. They claim that the company does not fight criminal activity on its social networks, which harms the interests of shareholders. informs Reuters.
The lawsuit was filed in Delaware administrative court on Monday. Plaintiffs accuse Mark Zuckerberg and other Meta executives of condoning human trafficking and child sexual abuse. Allegedly, the company does not notice criminal activity on its social networks Facebook (Meta’s owner is recognized and banned in Russia as an extremist) and Instagram (Meta’s owner is recognized as an extremist and banned in Russia).
The lawsuit claims that the board has not communicated to shareholders how it plans to resolve this issue. The lawsuit further states, “The only logical conclusion is that the board deliberately allowed Meta platforms to promote and facilitate human trafficking, including for the purpose of sexual exploitation.”
Meta denies all allegations, saying it prohibits human trafficking and child sexual exploitation. Company officials say the allegations in the lawsuit mischaracterize Meta’s efforts to combat illegal activity.
Formerly socialbites.ca saidThat Mark Zuckerberg plans to cut 10,000 jobs and slow hiring.