Facebook, Inc. Securities Litigation (2018)

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Lawsuit Overview

Defendant:Facebook, Inc.
Date Filed:July 27th, 2018
Sector:Technology
Industry:Computer Software: Programming, Data Processing

Plaintiff's law firm issued a press release on July 27, 2018, announcing the filing of the class action lawsuit. According to the press release, the Complaint alleges that Facebook knew that the user base for its social media platform—Facebook's main revenue source—would diminish after it implemented new procedures necessary to comply with GDPR, a landmark data privacy legislation adopted by the European Union. Despite this knowledge, Facebook knowingly made materially false and misleading statements regarding Facebook's business and operations, causing catastrophic loss to its shareholders.

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First Identified Complaint

Fern Helms, et al. v. Facebook, Inc., et al.

Date Filed:July 27th, 2018
Class Period Start:October 1st, 2017
Class Period End:July 26th, 2018
First Identified Complaint Filings
#Document TitleFiling Date