Facebook Investors Call For More Oversight To Avoid Safety, Privacy Scandals

Meta, formerly Facebook, dealt with many severe controversies this year, and as a result faced backlash from users, lawmakers, and experts alike. However, the company’s shareholders also seem to be completely fed up. According to a recent report from Axios, Meta investors have sent a letter to the company asking for an oversight audit to hold it accountable.

The investors teamed up with a public interest nonprofit to demand that the social media giant submit to an independent assessment of its practices. All of this is meant to prevent any future controversies that could hurt the company’s bottom line.

“Shareholders request the board commission an independent assessment of the Audit and Risk Oversight Committee’s capacities and performance in overseeing company risks to public safety and the public interest and in supporting strategic risk oversight on these issues by the full board,” the investors wrote in a letter to Meta’s corporate secretary.

“The stream of harmful revelations has continued,” the investors continued, adding that the company “regularly breaks pledges to remove harmful content.”

Facebook has shot down proposals like this in the past, so it seems unlikely that the company would cave now. However, if enough prominent shareholders want it to clean up its act, Facebook could be forced to open itself up and become more transparent to privacy and security experts.




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