Australia: Australian Competition Authority initiates legal proceedings against Meta

On 18 March, 2022, the ACCC initiated Federal Court proceedings against Meta Platforms, Inc. and Meta Platforms Ireland Limited with regards to deceiving advertisements on the Facebook platform. The ACCC considers Meta responsible for the content of the advertisements, in which prominent Australian figures promoted digital assets which they never endorsed. The ACCC accuses Meta of deceptive conduct due to its publishing of the scam advertisements, which constitute a breach of Australian Consumer Law and the Australian Securities and Investments Commission Act. In addition, the ACCC alleges that Meta knowingly aided and abetted in the deceiving of their consumers through their advertisers.