Ohio Attorney General sues Meta over revelations from the 'Facebook Papers'
New York (CNN Business)Ohio Attorney General Dave Yost on Monday announced that he is suing Meta, the social media giant formerly known as Facebook, based on revelations from whistleblower Frances Haugen and the trove of internal company documents she leaked.
The securities lawsuit, filed on behalf of the Ohio Public Employees Retirement System and other investors, alleges that the company misled the public about its algorithm and the harms the company's own research showed its apps can cause to users. It claims that Facebook-turned-Meta executives violated securities law by making false statements about the "safety, security and privacy of its platforms" in order to boost its stock. Meta (FB) shares have fallen around 7% since reporting on Haugen's claims and the internal documents began two months ago, harming investors to the tune of more than $100 billion, according to the lawsuit.
"[Meta] repeatedly misrepresented to investors and the public that use of Facebook's products does not harm children, that the Company takes aggressive and effective measures to stop the spread of harmful content, and that Facebook applies its standards of behavior equally to all users," the lawsuit alleges.
"Facebook investors recently learned the truth when former Facebook employee turned whistleblower, Frances Haugen, came forward with internal documents showing that Defendants were aware that Facebook's platforms facilitate dissention, illegal activity, and violent extremism, and cause significant harm to users," the complaint states. It lists the company, as well as CEO Mark Zuckerberg, CFO David Wehner and vice president of global affairs Nick Clegg as defendants.
"This suit is without merit and we will defend ourselves vigorously," Meta spokesperson Andy Stone said in a statement to CNN Business Monday.
The Wall Street Journal in September began publishing a series called the "Facebook Files" based on the internal documents, which raised concerns about Instagram's effects on teen girls, among other issues. The reporting prompted a Senate subcommittee hearing with Facebook head of global safety Antigone Davis. Haugen then testified before the Senate subcommittee, during which she said she believes that "Facebook's products harm children, stoke division, and weaken our democracy."
The internal documents, which have come to be known as the "Facebook Papers," were provided by Haugen to the Securities and Exchange Commission and lawmakers. A consortium of news organizations, including CNN, reviewed the redacted versions received by Congress. The documents provide the deepest look yet at many of Meta's biggest problems, including with its approach to combating hate speech and misinformation, managing international growth and protecting younger users on its platform.
Last month, another former Facebook employee anonymously filed a complaint against the company to the SEC, with allegations similar to Haugen's.
The Ohio lawsuit, which was filed Friday, alleges that "these disclosures erased more than $100 billion in shareholder value and subjected Facebook to immense reputational harm."
Meta (FB) has repeatedly refuted Haugen's claims and said the documents misrepresent the company's research and its actions.
"At the heart of these stories is a premise which is false," a Facebook spokesperson said in a statement to CNN about the Facebook Papers last month. "Yes, we're a business and we make profit, but the idea that we do so at the expense of people's safety or wellbeing misunderstands where our own commercial interests lie."
In the wake of reporting on the Facebook Papers, the company announced it was changing its name to Meta, a nod to its ambitious plans to build an immersive internet platform called the metaverse. It also made changes to its ad-targeting practices and how it's using facial-recognition software.
Still, members of Congress have since called for Zuckerberg to testify about the documents' findings.
Yost's office said in a statement Monday that his lawsuit "not only seeks to recover that lost value but also demands that Facebook make significant reforms to ensure it does not mislead the public about its internal practices."
俄亥俄州总检察长根据“Facebook 文件”起诉 Meta
纽约（美国有线电视新闻网）俄亥俄州总检察长戴夫·约斯特周一宣布，根据举报人弗朗西斯·豪根 (Frances Haugen) 的揭露以及她泄露的大量公司内部文件，他将起诉前身为 Facebook 的社交媒体巨头 Meta。
代表俄亥俄州公共雇员退休系统和其他投资者提起的证券诉讼称，该公司在其算法以及该公司自己的研究表明其应用程序可能对用户造成的危害方面误导了公众。它声称，Facebook 出身的 Meta 高管违反证券法，就“其平台的安全性、安全性和隐私性”做出虚假陈述，以提高其股票。诉讼称，自两个月前报告 Haugen 的索赔和内部文件开始以来，Meta (FB) 股价已下跌约 7%，对投资者造成的损失超过 1000 亿美元。
“[Meta] 一再向投资者和公众歪曲使用 Facebook 的产品不会伤害儿童，公司采取积极有效的措施阻止有害内容的传播，并且 Facebook 将其行为标准平等地适用于所有用户， “诉讼称。
“Facebook 的投资者最近了解到真相，前 Facebook 员工成为告密者，弗朗西斯·豪根 (Frances Haugen) 提出内部文件，显示被告意识到 Facebook 的平台助长了异议、非法活动和暴力极端主义，并对用户造成了重大伤害，”诉状状态。它将公司以及首席执行官马克扎克伯格、首席财务官大卫韦纳和全球事务副总裁尼克克莱格列为被告。
“这起诉讼毫无根据，我们将大力捍卫自己，”Meta 发言人安迪·斯通周一在给 CNN Business 的一份声明中说。
《华尔街日报》于 9 月开始根据内部文件发布名为“Facebook 文件”的系列文章，这引起了人们对 Instagram 对少女的影响等问题的担忧。该报道促使参议院小组委员会与 Facebook 全球安全负责人安提戈·戴维斯 (Antigone Davis) 举行听证会。豪根随后在参议院小组委员会作证，在此期间她说她认为“Facebook 的产品伤害儿童、引发分裂并削弱我们的民主。”
内部文件，后来被称为“Facebook 文件”，由 Haugen 提供给美国证券交易委员会和立法者。包括 CNN 在内的一个新闻机构财团审查了国会收到的编辑版本。这些文件对 Meta 的许多最大问题进行了最深入的了解，包括其打击仇恨言论和错误信息的方法、管理国际增长以及保护其平台上的年轻用户。
上个月，另一名前 Facebook 员工匿名向美国证券交易委员会提出了对该公司的投诉，指控与 Haugen 相似。
周五提起的俄亥俄州诉讼称，“这些披露抹去了超过 1000 亿美元的股东价值，并使 Facebook 的声誉受到巨大损害。”
Meta (FB) 一再反驳 Haugen 的说法，并表示这些文件歪曲了公司的研究及其行动。
“这些故事的核心是一个错误的前提，”Facebook 发言人上个月在给 CNN 的一份关于 Facebook 论文的声明中说。 “是的，我们是一家企业，我们盈利，但我们这样做以牺牲人们的安全或福祉为代价的想法误解了我们自己的商业利益所在。”
在 Facebook Papers 报道之后，该公司宣布将更名为 Meta，这是对其建立名为 Metaverse 的沉浸式互联网平台的雄心勃勃的计划的认可。它还改变了它的广告定位实践以及它如何使用面部识别软件。
尽管如此，国会议员此后一直呼吁扎克伯格就这些文件的调查结果作证。
约斯特的办公室在周一的一份声明中表示，他的诉讼“不仅旨在追回损失的价值，还要求 Facebook 进行重大改革，以确保不会在内部做法方面误导公众。”
