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In a significant legal development, Meta Platforms Inc. (NASDAQ:META) is set to face a class action lawsuit. The case revolves around allegations that the tech giant misrepresented the audience size for its Facebook and Instagram advertising services. What Happened: The U.S. Court of Appeals for the Ninth Circuit has ruled against Meta Platforms Inc. (NASDAQ:META), allowing a class action lawsuit to proceed. Advertisers have accused the company of exaggerating the potential reach of its ads on Facebook and Instagram, reported Bloomberg Law. This decision upholds a previous ruling by a district…