Ohio Sued, Facebook Allegedly Misled The Public, Especially Teenagers

, Meta was sued by the Ohio Attorney General claiming how the social media controlled the algorithm and the effect its products had on children. (photo: doc. unsplash)

JAKARTA - Facebook's parent company, Meta was sued by the Ohio Attorney General who claimed how social media controlled its algorithms and the effects of its products on children.

The lawsuit, which was filed on behalf of the Ohio Public Employees Retirement System (OPERS) on November 12, demands more than $100 billion in damages or equivalent to IDR 1.4 quadrillion.

In the lawsuit, between April 29 and October 21, Facebook and its executives were accused of violating federal securities laws when they intentionally misled the public and deceived shareholders about how its products could negatively impact children.

"Facebook says it is watching our children and weeding out online trolls, but in reality, it is creating misery and division for profit", Ohio Attorney General Dave Yost said in a statement quoted by The Verge, Wednesday, November 17.

Yost added that when the Wall Street Journal (WSJ) began publishing a series of articles based on internal documents from whistleblower Frances Haugen, the truth began to emerge.

According to the document, Facebook's own internal research suggests its Instagram photo-sharing platform may be harmful to the mental health of teens, especially girls.

"After the report was published, Facebook's stock immediately fell, causing the pension system and other investors in the company to lose more than $100 billion", Yost said.

The lawsuit also shows that OPERS manages approximately $125 billion in assets on behalf of 1.1 million active members, retirees, and beneficiaries. The system purchased Facebook Class A shares of common stock at an artificially inflated price in 2021 and suffered damages as a result of alleged violations of federal securities laws.

In May, Yost and attorneys general from 43 other states and territories urged Facebook at the time to scrap plans to build an Instagram app for children under the age of 13, citing behavioral and privacy concerns.