Generic selectors
Exact matches only
Search in title
Search in content
Search in posts
Search in pages
our-team
practice-areas
investment-products

Investigations

Facebook Investigation: Investor Rights Lawyers Investigating on Behalf of Facebook Shareholders Following Alleged Misuse of Data of Tens of Millions of Users and Drop in FB Share Price

The Goldman Scarlato & Penny shareholder rights lawyers are investigating Facebook on behalf of its shareholders, following allegations of data harvesting without Facebook user permission and inquiries by Congress and UK authorities. News of the allegedly improper use of tens of millions of Facebook users’ data was followed by a plunge in Facebook’s stock price that erased over $40 billion in shareholder value.

The Goldman Scarlato & Penny lawyers are investigating whether Facebook has adequately disclosed to its shareholders the extent of the alleged improper data harvesting and Facebook’s complicity in it; the adequacy of its systems and processes to protect users’ data; and the steps it took to safeguard user data and retrieve improperly harvested data.

“Tens of billions of dollars of shareholder value have been wiped out virtually overnight, following the revelations of unauthorized harvesting of Facebook user data,” said Paul Scarlato, a Goldman Scarlato & Penny partner who is overseeing the Facebook matter investigation. “We intend to determine whether Facebook and its directors and officers breached any duties to their shareholders in connection with the alleged improper harvesting of its users’ data, and take legal action against any responsible parties.”

Goldman Scarlato & Penny has issued a press release regarding its investigation and is in touch with Facebook investors.

Facebook Shareholders May Contact the Goldman Scarlato & Penny Lawyers If you are a shareholder of Facebook, you may contact the Goldman Scarlato & Penny lawyers, Paul Scarlato or Mark Goldman to learn more about their investigation, provide any useful information you may have, and/or inquire about your legal options. The consultation is free, no-obligation, and any cases are taken on a contingency fee basis. No recovery, no fees or costs.

The Goldman Scarlato & Penny investor rights lawyers often seek redress on behalf of shareholders in cases of corporate misconduct. Facebook investors should contact them at 888-998- 0530 or via email at scarlato@lawgsp.com or goldman@lawgsp.com.

Contact: Paul Scarlato, 888-998- 0530

In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent updates regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases. Also, the brokercheck report linked to some of our blogs is the up-to-date version as of the date of posting. Visitors may check the most recent version of each brokercheck report at www.finra.org.

Leave a Reply