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| Meta misleads investors based on misleading information |
Whistleblower Assistance said it had filed a complaint with the United States. The Securities and Exchange Commission alleges that Meta misled investors about climate change mitigation efforts and coronavirus disinformation on its platform.
The nonprofit representing Frances Hawking says the company has made material errors and omissions in statements to investors about how it handled misinformation, according to The Washington Post, which saw it. An edited copy of the file.
The complaints are based on Hogan's testimony before Congress and document his attorneys, who brought him to financial regulators last year.
The documents reveal Facebook's public and private approach to dealing with climate change and misinformation about the coronavirus. That's according to Andrew Bakaj, senior advisor at Whistleblower Aid.
"This is an irresponsible public act that misleads investors who are entitled to receive honest answers from the company," Bakaj added.
According to Whistleblower Aid, Meta didn't have a clear policy on misinformation about climate change until last year.
The complaint also alleges that this misinformation is still present on Facebook, despite executives reassuring investors that the company is committed to responding to the global crisis.
The nonprofit cited internal documents showing misinformation about the novel coronavirus and hesitations about a vaccine released via Facebook.
It even came as Meta executives publicly commented on the steps they were taking to stop the spread of misinformation about the virus.
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Since 2020, Meta has provided factual information about Corona and climate change in its dashboard. The company has long fought to stop the spread of misinformation on Facebook and its other platforms.
Documents Hogan provided to news outlets last year bolstered critics' credibility that the company prioritized profit over user safety. It was also reported in September that the company had provided incomplete data to those requesting misleading information.
A Meta spokesperson said: "We have referred more than two billion people to reliable public health information. We will continue to remove false vaccine claims, conspiracy theories and misinformation."
"We have also set up climate research centers in more than 150 countries to connect people with facts and the latest climate information," he added. We also work with independent fact-checkers to counter false allegations. There is no one-size-fits-all solution to stop the spread of misinformation, but we are committed to developing new tools and policies to combat it.