German court orders Meta remove fake investment ads, pay damages
Business
A German court ruled on September 16, 2024 that Meta, the company behind Facebook and Instagram, is responsible for fake investment ads using someone else's logo and image.
The court says Meta has to remove these scam ads and pay damages to the operator of a German financial portal and its founder.
Court orders Meta disclose ad revenues
The court pointed out that Meta took up to 62 days to remove some reported scams, way too long.
It also dismissed Meta's argument that its algorithms limit its control over content.
Under the ruling dated September 16, 2024, Meta must reveal details about the fake ads and how much money they made from them.
While a Meta spokesperson disagreed with the ruling and said the company is considering next steps, the decision can still be appealed.