Supreme Court rejects Meta's appeal in $7 billion advertising lawsuit, impacting ad industry.

From Nasdaq: 2025-01-13 11:49:57

Meta faced a legal setback as the Supreme Court refused to hear its appeal in a $7 billion class action lawsuit. Allegations claim Meta inflated ad reach metrics by up to 400%, potentially affecting millions of businesses since 2014. The decision could set a precedent for digital advertising transparency and industry reforms.
Meta’s revenue heavily relies on advertising, totaling $116.1 billion in 2024. The lawsuit’s class action status could lead to larger recoveries at lower costs. Other tech companies are monitoring the case for potential impact on the ad tech industry. Advertisers may seek similar claims if Meta fails to address transparency concerns.



Read more at Nasdaq: Supreme Court Rejects Meta’s Appeal in $7 Billion Advertising Lawsuit