As Matt Levine says, everything is securities fraud
You know the basic idea. A company does something bad, or something bad happens to it. Its stock price goes down, because of the bad thing. Shareholders sue: Doing the bad thing and not immediately telling shareholders about it, the shareholders say, is securities fraud. Even if the company does immediately tell shareholders about the bad thing, which is not particularly common, the shareholders might sue, claiming that the company failed to disclose the conditions and vulnerabilities that allowed the bad thing to happen.
And so contributing to global warming is securities fraud, and sexual harassment by executives is securities fraud, and customer data breaches are securities fraud, and mistreating killer whales is securities fraud, and whatever else youāve got. Securities fraud is a universal regulatory regime; anything bad that is done by or happens to a public company is also securities fraud, and it is often easier to punish the bad thing as securities fraud than it is to regulate it directly.
Yes, bring back the Old Web, please!
Glad to see Julia Reda still making trouble post EU parliament
No! Donāt try better! More outages, please.
Brit political has-been and Facebook global affairs veep Nick Clegg fired off a missive over the weekend announcing that the antisocial network would be hiring 10,000 people from across the European Union to help āBUILD THE METAVERSEā (VERSE-VERSE-VERSE-VERSE).
Whatās the metaverse? Well, no oneās quite sure ā it doesnāt exist yet ā but Cleggers and pal Javier Olivan, Facebookās central products VP, define it as āa new phase of interconnected virtual experience using technologies like virtual and augmented reality.ā
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Bleh.
Facebook is letting people run ads for forged vaccination cards. Lovely.
Iām pretty sure that it will collect this data even if you donāt have a Facebook account.
