Mark Zuckerberg and other Meta executives and directors sued; read why
The recent lawsuit blames Mark Zuckerberg and other executives and directors of Meta Platforms Inc for failing to put more effort into restricting sex trafficking as well as child sexual exploitation on Facebook and Instagram.
By ignoring “systemic evidence” of illegal behaviour, Meta’s leadership and board have allegedly failed to protect the company’s and shareholders’ interests, according to the complaint made public late Monday by several pension and investment institutions that own Meta stock.
“The only logical inference is that the board has deliberately decided to permit Meta’s platforms to encourage and facilitate sex/human trafficking,” the lawsuit said given the board’s refusal to explain how it attempts to address the issue.
The action was brought before the Delaware Chancery Court, and Meta denied its legal foundation.
We categorically forbid human and child sexual exploitation, the organization declared in a statement on Tuesday. “The allegations in this complaint misrepresent our attempts to stop this behaviour. We intend to keep exploitation-seeking individuals off of our platform.
According to billionaire co-founder and CEO of Meta, Mark Zuckerberg, child exploitation is “one of the most serious threats that we focus on,” he told Congress in 2019.
The Menlo Park, California-based company Meta has long been accused of fostering sexual misconduct on its platforms.
The Texas Supreme Court granted three victims’ requests to file lawsuits in June 2021 after finding that Facebook was not a “lawless no man’s land” exempt from responsibility for human trafficking.
Separately, Meta is facing hundreds of lawsuits from parents of young children and teenagers who allege their use of Facebook and Instagram caused them to develop mental health issues. The issue is that other school districts have also filed lawsuits.
In the derivative lawsuit filed on Monday, shareholders are suing officials and directors who they claim failed to uphold their obligations.
Instead of paying out damages to shareholders, the corporation is frequently compensated by the officers’ and directors’ insurers.
Employees’ Retirement Plan of the State of Rhode Island et al versus Zuckerberg et al, Delaware Chancery Court, No. 2023-0304.
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