Whistleblower group says Meta misled investors over misinformation

Whistleblower Aid says it has filed complaints with the Securities and Exchange Commission that accuse Meta of misleading investors about efforts to mitigate climate change and COVID-19 misinformation across its platforms. The nonprofit, which represents Meta whistleblower Frances Haugen, claimed the company made “material misrepresentations and omissions in statements to investors” over how it was handling misinformation, according to The Washington Post, which viewed redacted copies of the documents.

“The documents shared with the SEC make it totally clear that Facebook was saying one thing in private and another in public regarding its approach to climate change and COVID-19 misinformation,” Whistleblower Aid senior counsel Andrew Bakaj told Engadget. “That’s not just irresponsible to the public, it’s actively misleading investors who have a legal right to truthful answers from the company.”

In one of the filings, which were based on disclosures by Haugen, Whistleblower Aid reportedly claimed that Meta didn’t have a clear policy on climate change misinformation until last year. The complaint alleges that such misinformation was abundant on Facebook, despite assertions from executives to investors that the company was committed to battling the “global crisis,” according to The Post.

In the other complaint, the nonprofit reportedly cited internal …read more