Shareholders with $100,000 losses or more are encouraged to contact the firm. LOS ANGELES–(BUSINESS WIRE)–Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Meta Platforms, Inc. (“Meta” or the “Company”) (NASDAQ: FB) investors concerning the Company’s possible violations of the […]

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In 1992, the concept of the Metaverse existed only in the fertile imagination of American cyberpunk author Neal Stephenson. In his book Snow Crash, Stephenson described the metaverse as a virtual reality-based Internet populated by system daemons and user-controlled avatars.

The Aussie businessman said that Facebook’s failure to remove the fraudulent ads featuring him and dozens of other high profile celebs was “criminally reckless.”

In its quarterly earnings call, Meta announced that over $1 billion has been spent in the Quest store, with 8 titles surpassing $20 million in gross revenue.

Meta Platforms broke out its revenue from VR for the first time ever today, revealing the segment responsible for making VR headsets like Quest saw about as much revenue in 2021 as the amount it cost Facebook to purchase Oculus in 2014.