SEATTLE (AP) — Washington Attorney General Bob Ferguson says a Facebook representative provided false testimony in a lawsuit that accuses the company of violating state campaign finance laws.
The Seattle Times reports that in court filings the Democratic attorney general says both the social media giant and its attorneys knew the testimony was false.
Ferguson sued Facebook last year, for the second time, alleging the company has “repeatedly and openly” violated state campaign transparency laws by selling political ads without providing legally required details of the spending.
“Facebook is a commercial advertiser, yet it views itself above this law,” Ferguson writes in a new filing. “Even after a previous lawsuit and the original complaint in this case, it still refuses to provide the public access to all required information about political ads.”
Facebook did not immediately respond to a request for comment from the newspaper.
The company has argued that Washington’s campaign finance laws are unconstitutional and violate both the First Amendment’s free speech protections and the Commerce Clause, which gives Congress the power to regulate interstate commerce.
In a court filing, Facebook says that it did not provide false testimony because the issue the Attorney General’s Office was asking about was outside the agreed-upon scope and time frame of the questioning.
Washington’s strict campaign finance laws require ad sellers such as Facebook to disclose specific information on the names and addresses of people who buy ads, who the ads target and the total number of views of each ad.
Facebook calls the law “onerous” and says it violates the First Amendment by compelling the company to make disclosures about political speech — information about who is buying political ads — that it would not otherwise make.7 Defensive Stocks to Buy on Market Jitters
Defensive stocks are companies that deliver consistent revenue and earnings regardless of what is happening in the broader economy. This has the effect of allowing these stocks to outperform the market when the economy is in a downturn. But it also means that these stocks are frequently overlooked during bull markets.
After all, for many investors, particularly younger investors, but the benefit of capturing a dividend is far down on their list of priorities. But it’s specifically their ability to serve as a hedge against volatility that makes defensive stocks worthy of consideration in every portfolio.
One characteristic of defensive stocks is they have a high percentage of institutional ownership. These institutions (hedge funds, large investment banks, mutual funds, etc.) are frequently referred to as the “smart money.” By putting their money into these companies it’s a sign that the company is financially sound and likely to perform well.
Defensive stocks can be found in many sectors. In this presentation, we’re giving you one pick from various sectors.
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