Northern District Of California Dismisses Putative Class Action Against Social Media Company For Failure To Adequately Allege Scienter, Loss Causation

On December 20, 2021, the United States District Court for the Northern District of California dismissed a putative class action against a social media company and certain of its executives under the Securities Exchange Act.  In re Facebook, Inc. Sec. Litig., No. 5:18-CV-01725-EJD, 2021 WL…