The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Meta Platforms, Inc. (NASDAQ: FB) who purchased shares between March 2, 2021 and February 2, 2022. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
In particular, the Meta Platforms, Inc. lawsuit alleges that (1) Apple’s iOS privacy changes were having a material impact on Meta’s ability to provide the kind of targeted advertising that its customers wanted and, as a result, customer ad spending was dropping precipitously; (2) Meta’s mitigation efforts were either not properly implemented or ineffective; (3) measurement of ads was not accurate as mitigation efforts were failing; and (4) Meta did not have a plan in place to properly address the impact of the iOS privacy changes.
Shareholders have until May 9, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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