Bloomberg Briefs: Investors press Facebook, Google to act on fake news

Some investors in Facebook Inc. and Alphabet Inc. are growing worried about how the tech giants manage "fake news" on their platforms could drag down profits and leave them vulnerable to regulatory risks.

Arjuna Capital and Baldwin Brothers Inc., which together represent about $1 billion in managed assets, have in recent weeks sent shareholder proposals to Facebook and Alphabet, requesting the companies disclose how they block posts, ads or spamming from fake news sites, while protecting free speech. The proposal also asks for more information on third-party technology and staff used to monitor fake content.

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