New York Times: Facebook Faces a Public Relations Crisis. What About a Legal One?

New York Times: Facebook Faces a Public Relations Crisis. What About a Legal One?. “Whistle-blowers have filed at least nine complaints to the agency, which has oversight of public companies like Facebook, using a selection of the internal documents to argue that Facebook misled investors with a rosier picture of the company than they knew to be true. The S.E.C. can impose big fines for misleading investors and impose restrictions on corporate leaders. A case from securities regulators is probably far from a slam dunk, several legal experts said. The accusations in the complaints don’t appear to be quite as clear-cut as many other accounting and fraud cases taken up by the agency, they said.”

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