Meta Fraudulent Advertising Class Action
The representative plaintiffs, Canadian users of Facebook and Instagram, allege that Meta Platforms Inc. and its related entities (together, “Meta”) systematically allow, disseminate, and monetize fraudulent investment ads, which falsely promise risk-free investments or high rates of return, or impersonate public figures and established institutions (including deepfakes). It is alleged that Meta supplies targeting and optimization tools that assist fraudsters, fails to take down reported fraudulent ads, and charges high-risk advertisers premium rates instead of removing them.
Meta has prioritized ad revenue over user safety. The plaintiffs allege that Meta behaved negligently, breached its own Terms of Service and policies, misled users regarding the security and integrity of its platforms, and breached both the Competition Act and consumer protection legislation.
As a result of Meta’s conduct, Canadian users have suffered severe financial losses from investment and cryptocurrency schemes. The action seeks general, special, and punitive damages, as well as disgorgement of Meta’s advertising profits derived from fraudulent ads.
The Class:
All persons in Canada who suffered a financial loss between 2023 to the present due to the loss of value of either a stock, or a cryptocurrency-related financial product, which they invested in after responding to an advertisement on Facebook or Instagram that:
(i) falsely claimed to represent, or speak in the voice of, an established person, business or entity; or
(ii) related to, either in the body of the ad or on the landing page:
- returns within a short period of time;
- high rates of return; or
- returns that were guaranteed or risk-free.
The court will decide at a later date if the case will proceed as a class action.
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Latest Developments
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July 27, 2026
The Statement of Claim was issued.
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July 27, 2026
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Documents
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FAQS
What is a class action?
A class action is a lawsuit which provides a method for a large group of people with common claims to join together to advance one large claim. Class actions are a more efficient and cost-effective way for groups of people with common claims to gain access to the legal system and seek justice.
What does certification mean?
In order for an action to proceed as a class action, the court must determine whether it is appropriate for the case to be treated as a class action. Some of the factors the courts consider are the extent to which the claims of the class
members are common, and whether a class action is preferable to other methods (such as individual actions) of advancing the issues. The decision as to whether a class action should be certified takes place at a certification hearing and is decided by a judge. If certified, a representative plaintiff will advance the action on behalf of all of the class members.How do I know if I am a Class Member?
The certification order will always contain a description of who is a class member. We post the certification orders in our actions so that you can review them. You do not need to “sign up” to become involved in a class action. If you are included in the class description, you are automatically a class member who will be affected by the outcome of the class action unless you decide to “opt out”.
Are Class Members notified of the certification of the class proceeding?
Yes. After the claim has been certified, the court will authorize notice to be given to the members of the class.
Can I opt out of a class action and pursue independent legal action?
Yes. When a class action is certified, class members are always given an opportunity to opt out of the action. A deadline is imposed for opting out. If you do not opt out by the given deadline, class members will be bound by the outcome of the class action, whether it is successful or unsuccessful. If you opt out, you will not receive any benefit if the action is successful.
Will there be any cost to class members for legal fees?
Typically, class actions are handled on a contingency fee basis, which means that the class action lawyers will be paid only if the class action is successful at trial or settled. In that case, class counsel fees may be paid by the defendants or out of the settlement or judgment proceeds as approved by the court. In addition, the plaintiff may seek funding assistance from the Class Proceeding Fund which, if funding is granted, may provide funding for disbursements.
I still have questions…
Please feel to contact us by using the contact information on this site.
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Contacts
Toll Free: 1-888-502-7455
Email: metafraudulentadsclassaction@kmlaw.ca
