The state of Ohio, in the United States, has filed a lawsuit against Meta Platforms, the company behind Facebook, Instagram and WhatsApp.
It alleges that social networks under the directive umbrella of Mark Zuckerberg misled users about the effect of their products on children and this indirectly affected the finances of thousands of people in that state.
The lawsuit, filed by the Ohio attorney general on behalf of Meta investors and the Ohio Public Employees Retirement System, is for a whopping US $ 100 billion in damages.
The prosecutor alleges that the company misled the public about how it controlled its algorithm and lied about the effects its products have on children. In addition, it requires Meta to make significant changes so as not to mislead investors again, says the Ohio attorney general, Dave yost, it’s a statement.
AG Yost has filed a lawsuit against Facebook for knowingly deceiving its investors, including @OhioPERS, prioritizing profit over public safety.
Details: https://t.co/7x8l2M3ZfW pic.twitter.com/s2sus2TrrT– Ohio Attorney General Dave Yost (@OhioAG) November 15, 2021
Facebook’s response to Yost’s lawsuit
“This lawsuit does not make any sense and we will defend ourselves vigorously,” said Joe Osborne, Meta spokesman.
The text of the application, published by the Wall street journal, says that between April 29 and October 21, 2021, Facebook and its executives violated federal laws by intentionally misleading the public about the negative impact of their products on minors in an effort to boost their actions and lie to children. investors.
“Facebook said it was taking care of our children and eliminating online trolls, but it was actually creating misery and division for profit,” says Yost, a fervent Republican.
“The truth began to emerge on September 13, 2021, when The Wall Street Journal published the first in a series of articles, referred to as ‘The Facebook Files,'” the lawsuit says, referring to the WSJ report that showed that the company knew about the problems.
Among other things, the Facebook Files revealed that the company knew that its photo-sharing app Instagram was harmful to some teenagers.
Those revelations led to Facebook shares fell $ 54 per shareny caused the Ohio Public Employees Retirement System and other Facebook investors to lose more than $ 100 billion, Yost says.
A few months ago, both Yost and other attorneys general from different states urged Facebook to abandon its plan to create an Instagram app for children under 13, citing privacy concerns.
In September, due to political pressure, the company said it was suspending the project.