Shareholders have proposed that Facebook Inc (FB.O) prepare a report on the threat to democracy and free speech from so-called fake news spread on the social media forum, and the dangers it may pose to the company itself, according to a proxy filing made on Friday.
The proposal, which said Facebook had provided “a financial mechanism supporting fabricated content” on the internet, suggests the company review the issue broadly, including the extent to which it blocks fake posts, how its strategies impact free speech and how it evaluates claims in posts.
“Facebook is highly vulnerable, as fake news promoters are spamming their way to visibility for fake news through strategically gaming Facebook’s algorithms and publishing platform,” the proposal states.
“In light of the societal crisis generated by the explosion of fake news and related hate speech, failure to effectively manage this issue creates public policy risk,” it said.
The issue of fake news came to prominence during the U.S. presidential election last year, when many inaccurate posts were widely shared on Facebook and other social media services.—Agencies