The state of Ohio (USA) presented this Monday a demand against goal (the company that owns Facebook and Instagram) for “misleading” users with the algorithm of your social networks.
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As reported in a statement by the Ohio Attorney General, Dave Yost, the company files leaked to the press in the so-called “Facebook papers” suggest that Meta (formerly Facebook) would have misled public opinion and investors in relation to the operation of its algorithm.
According to the complaint, between April and October of this year Facebook and its top executives “violated federal securities market laws by confuse deliberately to the public on the negative effects that its products have on the health and well-being of children “.
Instagram, a toxic network
One of the revelations of Facebook’s papers that have generated the most controversy has been that the company has, for a long time, internal studies that determine that Instagram is especially “toxic” for adolescent girls, as it aggravates the problems that one in three girls have with their body image.
In the lawsuit, the Ohio attorney general (of the Republican Party) notes that in the documents, workers at the company admit that in fact they are not doing what in public they say they do to improve safety and promote well-being through its platforms.
Company workers admit that Meta is not doing what they publicly say they are doing to improve safety
According to the letter, since The Wall Street Journal began publishing information made from these documents in September, the value of Meta’s shares (then Facebook) was devalued $ 54.08 per share in a month, generating losses of more than $ 100 billion for investors.
The logic of the lawsuit, therefore, is that if Facebook and its managers had been transparent regarding the operation and effects of their products, investors could have made informed decisions and, potentially, avoid these losses.
Thus, the attorney general assured that with the complaint he seeks return lost value to investors and force Meta to carry out “significant reforms” to ensure that it does not again mislead the public about its internal practices.
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