U.S. Supreme Court Declines Meta’s Bid to Avoid Advertisers’ Lawsuit

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The U.S. Supreme Court on Monday rejected an appeal by Meta Platforms, the parent company of Facebook and Instagram, to block a class-action lawsuit by advertisers accusing the company of inflating audience metrics and overcharging for advertisements.

The decision upholds a ruling by the 9th U.S. Circuit Court of Appeals in San Francisco, which allowed advertisers to pursue damages collectively for Meta’s alleged misrepresentation of the “potential reach” of its ads. The class-action lawsuit, led by former Meta advertisers DZ Reserve and Cain Maxwell, claims that Meta exaggerated its ad viewership metrics by as much as 400% by focusing on the number of social media accounts rather than the actual number of individuals.

Legal Background

The appeals court’s 2-1 decision in March 2024 ruled that the advertisers could proceed as a group, arguing that their claims stemmed from a “common course of conduct” by Meta. This approach allows potentially millions of advertisers who paid for ads on Facebook and Instagram since August 15, 2014, to collectively seek damages, which they estimate could exceed $7 billion.

In its appeal to the Supreme Court, Meta challenged the lower court’s reliance on the “common course of conduct” test, arguing that other federal appeals courts have rejected this standard. Meta also contended that not all advertisers would have found the alleged misrepresentation significant or relied on it when purchasing ads.

Financial and Legal Implications

Advertising remains the cornerstone of Meta’s revenue, accounting for $116.1 billion in the first nine months of 2024. A decision in favor of the plaintiffs could result in substantial financial penalties for the tech giant and set a precedent for future class-action lawsuits involving advertising metrics.

Class actions are often favored by plaintiffs in cases involving widespread claims, as they can lead to larger recoveries at lower costs compared to individual lawsuits.

The lawsuit highlights increasing scrutiny of tech companies’ advertising practices and the metrics used to evaluate the effectiveness of their platforms, which are critical to advertisers’ decision-making and spending.

 

Turkey’s Pasifik Holding Eyes Global Tech and Port Investments

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Turkey’s Pasifik Holding, a conglomerate with interests spanning real estate, logistics, mining, and energy, is expanding its global ambitions in technology and port operations, according to Chairman Fatih Erdogan. Speaking to reporters in Istanbul on Tuesday, Erdogan outlined the company’s strategic focus for 2025, emphasizing partnerships, acquisitions, and new investments.

Expansion into Technology and Defense

Pasifik Holding is actively pursuing partnerships and acquisitions in the global technology sector, particularly in defense technologies. This move aligns with the company’s vision to strengthen its footprint in innovative industries and enhance its portfolio across international markets.

Port and Terminal Investments

The company also plans to invest in port and terminal operations, marking a significant diversification of its business activities. Erdogan noted that these investments are a priority for the year and reflect the growing importance of logistics and trade infrastructure in the global economy.

Public Listing Plans

Pasifik Holding is preparing to list 20% of its holding company on Borsa Istanbul during the first quarter of the year. This public offering is expected to raise funds to support its ambitious growth plans. The group already has four subsidiaries listed on the exchange:

  • Orcay (ORCAY.IS)
  • Pasifik Eurasia Lojistik (PASEU.IS)
  • Pasifik GYO (PSGYO.IS)
  • Pasifik Teknoloji (PATEK.IS)

With a workforce exceeding 2,500 across 55 companies, Pasifik Holding aims to leverage its diversified portfolio to tap into new markets and industries, reinforcing its position as a leading Turkish conglomerate.

 

Apple, Samsung Smartphone Shipments Decline Amid Rising Chinese Competition: IDC Report

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Global smartphone shipments for Apple and Samsung declined in the fourth quarter of 2024 as Chinese manufacturers, including Xiaomi, Oppo, and Honor, intensified competition, according to preliminary data from the International Data Corporation (IDC).

The global smartphone market has rebounded after two years of decline, driven by the aggressive expansion of Chinese brands into low-end devices and their dominant focus on the domestic market. Chinese companies shipped 56% of global smartphones in the fourth quarter, marking their highest combined volume ever in a single quarter.

Apple and Samsung See Shipment Declines

Apple’s shipments fell by 4.1% to 76.9 million units, while Samsung’s declined by 2.7% to 51.7 million units during the same period. Despite the downturn, Apple maintained its position as the top global smartphone brand for 2024 with an 18.7% market share, followed closely by Samsung at 18%.

Meanwhile, Xiaomi, which held 13.6% of the market, showed the fastest growth among the top five smartphone brands, with a 15.4% increase in shipments. In contrast, Apple’s total shipments for the year dropped by 0.9%, and Samsung’s fell by 1.4%.

Chinese Manufacturers Drive Market Growth

Chinese smartphone makers leveraged their competitive edge in low-end and mid-range devices to expand their market presence, particularly in Europe and Africa. Their focus on affordability and value for money has resonated with consumers, allowing them to achieve record-high shipments in the fourth quarter.

Nabila Popal, senior research director for worldwide client devices at IDC, expressed optimism for continued growth in 2025. However, she also highlighted industry uncertainties due to the possibility of new tariffs from the incoming U.S. administration.

Foldable Smartphone Market Struggles

Despite growth in several regions, demand for foldable smartphones has been underwhelming. IDC research director Anthony Scarsella noted that even with heavy promotions and marketing, consumer interest in foldables has remained flat. As a result, smartphone makers are reallocating research and development budgets away from foldable devices.

The evolving landscape of the global smartphone market underscores the increasing influence of Chinese brands and the shifting consumer demand for innovative yet cost-effective options.