00:00It's Benzinga bringing Wall Street to Main Street.
00:02Meta Platforms was sued by Santa Clara County, California over allegations that the company
00:08knowingly facilitates and profits from scam advertisements on Facebook and Instagram,
00:13according to Bloomberg. The complaint alleged Metatrack scam ads and generates about $7 billion
00:19in annual revenue from them, according to Santa Clara County Counsel Tony Lopresti.
00:24The lawsuit seeks injunctive relief, civil penalties, and restitution for money lost
00:30through the alleged scams. The complaint cited scams involving fraudulent financial products,
00:36cryptocurrency schemes, fake disease cures, ineffective nutritional supplements,
00:40and celebrity impersonation scams seeking money. Meta said the lawsuit relies on a Reuters report
00:46that distorts the company's actions and stated it removed more than 159 million scam ads in 2025.
00:53Meta said it will fight the lawsuit and called scams harmful to users and businesses on its
00:58platforms. For all things money, visit Benzinga.com.
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