Claim for damages against Facebook after the Financial collapse rate

Reuters reports that. Investors reacted to poorly received quarterly numbers last week. Shareholders lost a fifth of their holdings last week.

After the failure, Facebook still has a market value of 505 billion dollars.

The complaint was filed by the shareholder James Kacouris in New York. He accuses Facebook, founder Zuckerberg and his financial judge David Wehner, of making misleading statements.

Kacouris refers to the securities trading regulations in Manhattan, which require companies to report significant changes to shareholders so that they can change their investments.

Collective Claim

In addition, according to the allegation, they did not report the change in the turnover, the decline in operating margins and changes in the active users. The scope of the application has not been reported, but it is a collective complaint.

Facebook said it suffered damage last Wednesday. In the previous quarter, the Cambridge Analytica data processor

that had put data for Donald Trump's presidential campaign, had hurt the 80 million Facebook users

Illegal Use

Later, it turned out that other companies without Facebook users knew that the data had been sent out.

The storm of criticism led to hearings in the United States and Europe and a series of Zuckerberg interventions. Ten thousand employees have since been deployed on the network with 2.23 billion monthly active users for fake news messages and to eliminate fake accounts

These costs were at the charge of profit. Incidentally, advertisers have not given up: the turnover has grown 42% over the year, to 13 billion dollars.

British fine

Zuckerberg has himself underlined the ever stricter privacy rules in Europe. It does not stop there. A British parliamentary committee wants to impose fines on companies like Facebook if they carelessly process users' personal data.

The decline of Facebook action on Wall Street has had direct consequences on the personal assets of Zuckerberg, founder and largest shareholder. 19659002] The American personally loses $ 2.88 billion because of the 19% drop. There is still $ 69.9 billion of its total stock. In the billionaire index of the Bloomberg data collector, "Zuck" is now in sixth place.

Claims of the series

The man who had a long hit at the billionaire summit remained Saturday just before the KPN-delinquent Carlos Slim in the standings, and far behind the leader Jeff Bezos ($ 150 billion) Bill Gates ($ 96.6 billion) and Warren Buffett ($ 82.2 billion).

Facebook will add this Friday's collective claim to dozens of lawsuits on which it is already processing its user data