Mr. Shamagam represents Meta, arguing against securities liability over past risk omissions. Meanwhile, Mr. Russell and Mr. Barber, from Amalgamated Bank, contend that Facebook's disclosures are misleading. They delve into the complexities of corporate disclosures, discussing the critical distinction between materiality and falsity. The dialogue also highlights the implications of past data breaches, regulatory challenges, and the necessity for transparency in risk communication to protect investors. The episode paints a vivid picture of the ongoing legal battle and its impact on corporate accountability.
