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The Nexus
BUSINESSJul 9 · 00:19 UTCCOURTHOUSE NEWSMargaret Attridge

Meta likely to dodge suits over WhatsApp investment scams

A federal judge indicated he will likely dismiss lawsuits against Meta for facilitating investment scams via WhatsApp, citing jurisdiction issues under the Securities Litigation Uniform Standards Act (SLUSA). Plaintiffs allege scammers used Meta's platform to lure victims into fraudulent 'pump-and-dump' schemes involving stocks like Jayud Global Logistics Ltd. (JSL) and Ostin Technology Group Co., Ltd. (OST), resulting in significant financial losses.

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Mentioned
Meta Platforms Inc.organizationWilliam H. Orrick IIIpersonSecurities Litigation Uniform Standards ActtopicJayud Global Logistics Ltd.organizationOstin Technology Group Co., Ltd.organizationNasdaqorganizationAndrew RobertsonpersonMorris Kandinovorganization
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Meta likely to dodge suits over WhatsApp investment scams · The Nexus