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Case Status:    DISMISSED  
—On or around 09/17/2024 (Court's order of dismissal)
Current/Last Presiding Judge:  
Hon. Yvonne Gonzalez Rogers

Filing Date: March 08, 2022

According to the Complaint, Meta Platforms, Inc., the parent company of Facebook and Instagram, is a social media giant. Meta has successfully made a tremendous amount of money in recent years by using data obtained about its users by tracking their activities.

In June 2020, Apple announced that it would roll out a host of changes to the iOS operating software that would essentially cut off Facebook and its sister services from almost all the tracking abilities and information that they need to sell targeted ads as they had been for many years.

The Complaint alleges that Meta and its senior executives knowingly or recklessly failed to tell investors that (1) Apple’s iOS privacy changes were having a material impact on Meta’s ability to provide the kind of targeted advertising that its customers wanted and, as a result, customer ad spending was dropping precipitously; (2) Meta’s mitigation efforts were either not properly implemented or ineffective; (3) measurement of ads was not accurate as mitigation efforts were failing; and (4) Meta did not have a plan in place to properly address the impact of the iOS privacy changes.

On June 6, 2022, the Court issued an Order appointing Lead Plaintiffs and Counsel. Lead Plaintiffs filed an amended Complaint on August 2.

On October 4, 2022, Lead Plaintiffs voluntarily dismissed one of the individual Defendants.

Defendants filed a Motion to Dismiss the amended Complaint on October 18, 2022. On July 21, 2023, the Court issued an Order granting Defendants' Motion to dismiss. Lead Plaintiffs were given leave to amend the Complaint.

Lead Plaintiffs filed a second amended Complaint on September 18, 2023. Defendants filed a Motion to Dismiss the second amended Complaint on November 14. On September 17, 2024, the Court issued an Order granting Defendants' Motion to Dismiss. The case was dismissed with prejudice.

Lead Plaintiffs filed a notice appealing the Court's Dismissal Order on October 10, 2024.

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