Source Says Eric Bischoff's Claim Regarding Bret Hart vs. McMahon Is True LordsofPain.net - You may remember a few weeks back, Eric Bischoff said on Facebook that he heard Bret Hart had a Lloyds of London insurance policy that ... and more »

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I just spent a couple of days in San Francisco, the land of the nine-digit idea. Every town has its prevailing topic of conversation. In Los Angeles, it’s Julia and Tom and Ari and who’s in turnaround and who just dumped their agency to go with another agency another guy just dumped. In New York, it’s [...]

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A lawsuit has been filed against Facebook, charging that it modified its privacy settings, reducing rather than increasing, privacy protections. The lawsuit was filed in U.S. District Court in the northern district of California. It claimed that Facebook's messages around the changes were "misleading, confusing and disingenuous."

"Changes to the privacy settings that Facebook implemented and represented to increase User privacy had the outright opposite effect of resulting in the public dissemination of personal information that was originally private," the lawsuit said.

But the lawsuit by five Facebook users on behalf of all users said the modifications resulted in more personal data on the Internet, not less. Facebook spokesman Barry Schnitt told Computerworld in an email that it had informed its users about the changes.

"The announcement and education campaign by Facebook around the changes was unprecedented in its scope. Any recommended changes to a person's privacy settings were clearly shown to them repeatedly and were not implemented until they accepted these changes," Schnitt said.

For more on the lawsuit against Facebook:
- see this Computerworld.com article

Related Articles:
Facebook expands security to thwart phishing attacks
Facebook withdraws changes in data use

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In an interesting February 11, 2010 decision (here), Southern District of New York Judge Victor Marrero allowed plaintiffs, whose subprime-related securities class action lawsuit Marrero had previously dismissed, leave to file a second amended complaint against Credit Suisse Global and certain of its directors and officers.

 

Judge Marrero also found the securities fraud allegations in the proposed amended complaint to be legally sufficient, meaning that the claims can now go forward, although he also ruled that the court lacked jurisdiction over the claims of plaintiffs that resided outside the U.S. and that had purchased their shares outside the U.S.

 

Background

Credit Suisse is domiciled in Switzerland. Its shares trade on several securities exchanges outside the U.S. and its ADRs trade on the NYSE. As reported in greater detail here, the plaintiffs filed their initial complaint in this action in April 2008. The plaintiffs alleged that the defendants had made material misrepresentations about the company’s asset valuation system, its internal controls (which allegedly allowed unauthorized placement of high risk mortgage-backed assets in client accounts), and its own exposure to losses related to subprime mortgages.

...

Playing a quick game of catch-up on Facebook, I nearly scrolled right past Mashable's post--but the words "social media" and "women" caught my eye. Why Social Media Means Big Opportunities for Women. ...