IL treasurer calls on Facebook to stop 'fake news'

IL treasurer calls on Facebook to stop 'fake news'

SPRINGFIELD, IL (KFVS) - The Illinois State Treasurer is taking action to stop "fake news" on Facebook.

According to the office of Treasurer Michael Frerichs, he and fellow investors filed "a shareholder proposal demanding change.

"Facebook can no longer keep its investors and the American public in the dark," Frerichs said. "Americans need to know what Facebook is doing to protect the public from fake news and election interference, and investors need to know what Facebook is doing to protect shareholder value."

The shareholder proposal was lead-filed by investor Arjuna Capital and co-filed by Frerichs. He's also sent letters to Facebook voicing his concerns.

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