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KKC’s Novel SEC Legal Theory Basis for New Facebook Whistleblower’s Complaints

On Sunday, CBS 60 Minutes highlighted a new Facebook whistleblower, Frances Haugen. She spoke about Facebook’s refusal to effectively remove the toxic and criminal content on its site. Today, she testified before the U.S. Senate Subcommittee on Consumer Protection, Product Safety, and Data Security. Haugen has also filed several complaints with the U.S. Securities Exchange Commission alleging Facebook is misleading investors in that it is profiting from illegal activity on its site and put…

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