Meta Investor Accuses Zuckerberg Of $2.5B In Insider Trading
By Dean Seal (February 28, 2022, 7:39 PM EST) -- A Meta Platforms Inc. shareholder has filed derivative litigation accusing the Facebook successor's founder of pulling in more than $2.5 billion with insider sales just before, and while, a set of scandals rocked the social media giant last fall.
The complaint filed in California federal court on Friday aims to hold the company's directors and executives, including CEO Mark Zuckerberg, liable for plunges in Facebook's stock price that accompanied explosive whistleblower allegations about the social media site's effects on children and efforts to stop the spread of misinformation.
The tumultuous period came just before Facebook's rebrand to Meta late last October...
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