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

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…