For Meta, State AG Shoe Drops
For Meta, State AG Shoe DropsA long-anticipated lawsuit brought by 41 states against Meta dropped this past week. In this note we provide background on the suit, analyze its prospects, and point to what investors should be watching. As we discuss, the state litigation has a long way to go until there is a clear and present danger for Meta investors, but the litigation filed last week presents the biggest threat to date of government action that could cause changes in Meta’s operations that diminish the long-term value.
Facebook is building and engaging products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and in-home devices. The company's products include: Facebook, which enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, which is a place where people can express themselves through photos, videos, and private messaging, and explore their interests in businesses, creators and communities; Messenger and WhatsApp, which are messaging applications; and Oculus, which connects people through its Oculus virtual reality products.
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