Legal significance that facing by Facebook of its current issue

Facebook issue: “Eglet Prince has filed a class action lawsuit against Facebook, seeking in excess of $5 million in damages. The suit was filed after Facebook, a leading advertising medium worldwide, admitted for the first time that it used faulty metrics to measure the duration that viewers watched paid advertisements distributed on the social media platform."

https://www.wsj.com/articles/facebook-overestimated-key-video-metric-for-two-years-1474586951

Descibe the legal significance in this case facing by Facebook.

About 1-2 paragraphs with related supporting evidences.

APA style.