Meta hit with record $25bn penalty over Cambridge Analytica data case
FROM THE WIRE · UK.FINANCE.YAHOO.COM
Mark Zuckerberg's Meta has been accused by New Mexico of lying to users about who could access their personal information - Getty Images/Finn Gomez A US court has hit Meta with a record $25bn (£19bn) penalty for its role in harvesting millions of users' data during the Cambridge…
Read at the source ↗MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishA record penalty for a mega-cap like Meta weighs on sentiment and legal risk perception.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01A New Mexico judge ordered Meta to pay $25 billion for consumer protection violations.
- 02The penalty surpasses the $18 billion Meta agreed to pay this summer over claims its apps harmed children.
- 03In September a jury found more than 43 million violations of state consumer protection law.
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