Meta Platforms stock dropped over 1% after U.S. Supreme Court rejected appeal for class action lawsuit

From Nasdaq: 2025-01-13 18:54:00

Meta Platforms (NASDAQ: META) saw its stock drop over 1% after the U.S. Supreme Court rejected its appeal to avoid a class action lawsuit from advertisers. The lawsuit alleges misrepresentation of ad reach, potentially costing Meta billions in damages and involving millions of advertisers.

The legal battle could hurt Meta’s heavy dependence on advertising revenue, impacting its relationship with key revenue sources. Investors may want to consider other stock options, as Meta was not among the 10 best stocks recommended by The Motley Fool’s Stock Advisor analyst team, known for identifying high-return opportunities.



Read more at Nasdaq: Why Meta Platforms Stock Slumped on Monday