Consumer Watchdog Files Lawsuit Against Meta Over Alleged Profits from Scam Ads
The Consumer Federation of America has filed a class-action lawsuit against Meta Platforms, alleging the company profited from scam advertisements on its platforms and misled users about its efforts to combat fraud. The lawsuit claims Meta earned $7 billion annually from scam ads and that the company downplayed the risks to users. Meta has denied the allegations and stated it will fight the claims.
Tickers: $META
Topics: class-action lawsuit consumer protection fraudulent advertising Meta Platforms scam ads