A federal judge in San Jose has dismissed a stock-drop lawsuit filed against Facebook Inc. and company executives in the wake of its Cambridge Analytica privacy scandal, but has given investors a chance to amend their securities fraud claims.
U.S. District Judge Edward Davila of the Northern District of California on Wednesday granted a motion to dismiss filed by Facebook’s lawyers at Gibson, Dunn & Crutcher in full finding that plaintiffs by-and-large hadn’t shown that Facebook’s policy statements, investor communications and comments to the media were false or misleading.
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