CFA Advances Scam Ad Suit Against Meta Over $16B Profits, 15B Daily Risky Ads
Consumer Federation of America advanced its class-action lawsuit against Meta Platforms on April 22, 2026, alleging the company profited ~$16 billion (10% of 2024 revenue) from scam and banned-goods ads, including 15 billion 'higher risk' scam ads shown daily generating $7 billion annually. Filed April 21 in D.C. Superior Court, the suit accuses Meta of enabling fraud via China reseller accounts while misleading users on anti-fraud efforts. Meta contests claims, citing 159 million scam ads removed and 10 million accounts shut down, plus new verification rules. Risks include damages, oversight, and downward pressure on shares.