In a recent court ruling, a judge dismissed a lawsuit against Meta Platforms and its CEO Mark Zuckerberg, which alleged that they misled shareholders in the company’s proxy statement regarding the safety of children on Facebook and Instagram. U.S. District Judge Charles Breyer, based in San Francisco, stated that the plaintiff, Matt Eisner, did not adequately demonstrate that Meta’s alleged inadequate disclosures resulted in economic losses for shareholders.

Eisner’s claims centered on the assertion that federal securities laws required Meta to provide detailed information about the prevalence of sexually explicit content and the sexual exploitation of children on its platforms, as well as disclosing child-protection strategies that were ultimately not adopted. However, Judge Breyer argued that requiring Meta to argue against its own policy recommendations would undermine its successes and magnify its failures, stating, “That is not necessary.”

There was no immediate response from Eisner’s legal team, nor from the lawyers representing Meta and Zuckerberg when approached for comments. The lawsuit aimed to prevent Meta from proceeding with its 2024 annual meeting until the proxy statement was revised, and it sought to nullify any election results if the meeting took place. Additionally, Eisner sought to have Meta and Zuckerberg cover his legal expenses.

In June, Judge Breyer had already declined to halt the meeting, indicating that many of Meta’s claims regarding their commitment to children’s safety were merely “aspirational” and did not warrant the lawsuit. The dismissal on Tuesday was with prejudice, meaning that Eisner is barred from filing a similar lawsuit against Meta and Zuckerberg in the future.

Despite this ruling, Meta is still facing numerous lawsuits from state attorneys general who accuse the company of fostering addiction among children while downplaying associated risks. Additionally, the company is dealing with a multitude of legal challenges from children, parents, and school districts concerning social media addiction. Other platforms, including TikTok and Snapchat, are similarly confronting a wave of lawsuits pertaining to these issues.