“Advertisers Allege Facebook Put Off Disclosing Error,” The Wall Street Journal, October 17, 2018 B1. Facebook sued two years ago for knowing the statistics on how long users were looking at videos were flawed, overstating the average time videos were viewed but failed to let the advertisers know. So advertisers paid for posting videos based on inaccurate information from the seller (Facebook).
I guess one could comment on the culture at Facebook that would permit this behavior, or upon the Compliance implications of the apparent failure to punish anybody (employees, directors) for this apparent breach of customer trust. But instead one could focus on how much value Facebook derived from not disclosing information about known defects in its processes. So, either (a) the definition of Information includes information you don’t disclose or (b) the value of information can include the value of not disclosing it.
The documents turned over in discovery are not favorable to FB.