Oct 22 (Reuters) - Meta Platforms ( META ) and Chief

Executive Mark Zuckerberg won the dismissal of a lawsuit

claiming they misled shareholders in Meta's proxy statement

about their ability to ensure the safety of children who use

Facebook and Instagram.

In a decision on Tuesday, U.S. District Judge Charles Breyer

in San Francisco said the plaintiff Matt Eisner failed to show

that shareholders suffered economic losses from Meta's alleged

inadequate disclosures.

He also said federal securities law did not require Meta to

detail the severity of sexually explicit content and sexual

exploitation of children on its platforms, or all the child

protection strategies it decided not to adopt.

"In essence, Eisner would have had Meta argue against its

own recommendations, tout the benefits of tools it ultimately

rejected, highlight its own failures, and devalue its own

successes," Breyer wrote. "That is not necessary."

Eisner's lawyers did not immediately respond to requests for

comment. Lawyers for Meta and Zuckerberg did not immediately

respond to similar requests.

The lawsuit sought to block Meta from holding its 2024

annual meeting until the proxy statement was amended, void

election results if the meeting were held, and have Meta and

Zuckerberg cover Eisner's legal fees and costs.

Breyer had in June refused to enjoin the meeting, saying

many of Meta's assurances in the proxy statement that it was

committed to children's safety were simply "aspirational" and

did not justify the lawsuit.

Tuesday's dismissal was with prejudice, meaning Eisner

cannot sue Meta and Zuckerberg again.

Meta still faces lawsuits by dozens of state attorneys

general accusing the Menlo Park, California-based company of

addicting children to its apps while downplaying the risks.

It also faces hundreds of lawsuits by children, their

parents and school districts over social media addiction. The

operators of TikTok, Snapchat and other apps face hundreds of

similar lawsuits of their own.

The case is Eisner v Meta Platforms Inc ( META ) et al, U.S. District

Court, Northern District of California, No. 24-02175.