Facebook Investors Lose Bid For Cambridge Analytica Probe
Law360, New York (May 1, 2019, 8:43 PM EDT) -- A New York bankruptcy judge on Wednesday denied a group of Facebook shareholders the chance to serve discovery on Cambridge Analytica, saying they can't game the scandalized British data firm's Chapter 7 proceedings to gather information for separate litigation against Facebook’s board.
Plaintiffs in a derivative action targeting Facebook CEO and Chairman Mark Zuckerberg and other leaders of the social media empire for allowing user data breaches related to the Cambridge Analytica scandal have found it hard to extract information that could help them advance their case in Delaware Chancery Court.
After buying a creditor claim against Cambridge Analytica for $650...
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