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which would mean that FB committed illegal acts The SEC will make extremely vague allegations that Facebook misled investors by not disclosing some of these re
by downandout 5y ago
which would mean that FB committed illegal acts
The SEC will make extremely vague allegations that Facebook misled investors by not disclosing some of these reports. Facebook will settle to avoid further reputational damage, paying large fines without admitting wrongdoing. This woman will then buy an island to vacation on and a G650 to get there with. That is how 99% of these things play out.
I personally don’t believe that Facebook has done anything illegal here. That is not to say I don't think they have done anything wrong - their business, like many others, is morally bankrupt in some ways. But there is no codified responsibility for Facebook to do anything to cure the ills of social media. You don’t see casinos being successfully sued for causing suicides, bankruptcies, divorces, financial crimes, etc., but it happens every day. That’s because there is no law against being in a scummy business. Investors in such businesses know (or should know) what they are supporting.