Meta Shareholders Call for Oversight Audit

A group of Meta shareholders, along with the Campaign for Accountability, has submitted a resolution calling for an independent evaluation of the board's ability to oversee public safety on Facebook's platforms, Axios has learned. From the report: Facebook's parent company is facing pressure on multiple fronts from regulators, legislators and former employees -- and now investors. A letter sent earlier this month to Meta's corporate secretary, a copy of which was seen by Axios, says that, "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 letter is being submitted by the Harrington Associates and Park Foundation, both Facebook shareholders, in conjunction with the Campaign for Accountability. It aims to be included in Meta's annual proxy and submitted to a vote of shareholders. Other shareholders are also pushing similar resolutions this year, including an effort led by state investment officials in New York and Illinois. Facebook maintains it takes its responsibilities seriously, and told the Wall Street Journal that it has spent more than $5 billion this year on safety and security.

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