The company formerly known as Facebook, Meta, has now been hit with its first lawsuit. After being told that rebranding won't save them, the Metaverse developer is being slammed with its Facebook mistakes.
Meta's lawsuit revolves around internal research that was done about its platforms’ effects on children. An internal report discovered that Facebook and Instagram had negative effects on kids. However, instead of fixing its negative aspects, the company buried the report.
Ohio Attorney General sues Metaverse developer Meta
Reported by Insider, Ohio's Attorney General David Yost filed a lawsuit against Meta for its harmful effects on children. The lawsuit accuses the Metaverse developer of violating federal security laws for not informing investors of its findings.
Yost has filed the suit on the behalf of investors who have lost over $100 billion as a result of the story going public. The Attorney General wishes to “make significant reforms” as a result of Meta’s failure to inform investors.
Yost said:
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A problem for the future
Facebook’s name change to Meta last month was supposed to mark a new start for the company. As the developers of the upcoming metaverse aim to move on from social media, all effort is being placed on the futuristic platform.
However, lawsuits like this may end up limiting the success of Meta’s new platform. Additionally, internal issues such as knowledge that the metaverse will be a “toxic” environment may turn away would be users.
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