Meta is accused of misleading investors about the steps it was taking to combat misinformation on platform
Meta (formerly Facebook) has been accused of misleading investors about the steps it was taking to combat misinformation on its platforms.
The accusation came from a public organization titled Whistleblower Aid.
According to The Washington Post, the relevant complaints have been sent to the U.S. Securities and Exchange Commission.
Whistleblower Aid represents Frances Haugen, a former employee of Facebook, who last year became the author of a series of high-profile revelations, giving journalists data from internal research of the company.
The organization accuses Meta of "material misrepresentations in statements to investors" about its efforts to combat misinformation about global climate change and coronavirus infection.
The first complaint says that misinformation about global climate change was widely spread on Facebook and the social network did not have a clear policy on this issue last year. The second complaint is based on internal documents of the corporation, which indicate that it did not make enough efforts to combat misinformation about COVID-19.
"Some investors will simply not want to invest in a company that cannot adequately respond to misinformation, and then distorts related reports," one of the complaints says.