Facebook is drawing a bipartisan backlash from Congress, but the SEC could deliver a tougher blow

Facebook, in a filing with the agency earlier this year, noted for investors that “the nature of our business exposes us to claims related to defamation, dissemination of misinformation or news hoaxes, discrimination, harassment, intellectual property rights, rights of publicity and privacy, personal injury torts, laws regulating hate speech or other types of content.” It has included that language in annual reports to the SEC since 2017.