Thailand Consumers Council sues Facebook over scam adverts and lack of victim redress

MicroSectors FANG+ 3X Leveraged ETN (FNGU) fell 16% on June 5, dropping from $32.16 to $26.99, turning a $10,000 position into about $8,392. The move followed declines in mega-cap tech after Broadcom’s AI semiconductor guidance missed expectations and NVIDIA and Broadcom fell sharply. The article also cites a June 5 payrolls-driven rise in Treasury yields, reviving rate-hike fears.

The FCC proposed new rules to increase oversight of undersea communications cables, which carry about 99% of international internet traffic, according to Reuters. Operators of submarine line terminal equipment would need licenses for the first time, and security restrictions on potentially risky equipment could expand beyond specific firms. The FCC said faster approvals would require stricter safeguards; Meta and Google, major cable investors, could benefit.

The article says hackers compromised several high-profile Instagram accounts in late May 2026 by tricking Meta’s AI support chatbot during password recovery. According to the report, the chatbot had elevated permissions and sent one-time passcodes after attackers changed the account’s email, bypassing standard checks. Meta, it adds, has disabled the bot’s ability to perform sensitive account actions and now requires human review.

A court approved a second distribution from Meta/Facebook’s $725 million data-privacy class-action settlement, reassigning uncashed funds from the first payout. According to the settlement notice, second payments will go to class members with approved claims who cashed the first payment, in batches during June. Users may receive emails 3–4 days before each batch. Meta denies wrongdoing.

A court approved a second distribution of uncashed funds from Facebook/Meta’s $725 million data-privacy class-action settlement, according to the settlement notice. Many claimants who cashed the first payment will receive additional payments in June in batches over four weeks, with emails sent 3–4 days before each batch. Claims can no longer be filed; Meta denies wrongdoing.

Anthropic filed a confidential draft Form S-1 with the SEC, giving it the option to pursue an IPO, though share count and pricing weren’t set. CrowdStrike reported Q1 revenue of $1.39B vs $1.36B estimates and announced a 4-for-1 stock split. Broadcom’s Q2 revenue was $22.19B vs $22.27B estimates, with adjusted EPS of $2.44 vs $2.40. SpaceX signed a $920M monthly AI deal with Google.