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Meta Scam Ads Lawsuit
Description
The Consumer Federation of America filed a class-action complaint against Meta alleging the company profited from scam advertising, displaying 15 billion higher-risk scam ads daily and generating ~$7B in annual revenue from them. Internal projections estimated scam and banned goods ads could reach $16B, or 10% of revenue. The complaint alleges Meta allowed Chinese partners to resell ads through agency accounts that facilitated fraud. Meta denied the allegations.
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