Investor Sues Facebook After Trump Post Spurs Ad Boycott
Law360 (July 6, 2020, 7:59 PM EDT) -- A Facebook Inc. investor is demanding sweeping changes at the social media giant, including the removal of Mark Zuckerberg as board chairman, over a "failure to curtail hate speech" that led to an employee walkout and advertiser exodus.
In a derivative action filed last week, shareholder Natalie Ocegueda told a California federal court that Facebook's approach to diversity has been "characterized by tokenism" and led more than 100 advertisers to boycott the company's platform. That in turn has damaged the company's share price, according to Ocegueda, who demands a board shakeup and creation of a $1 billion fund geared toward hiring...
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