Meta ordered to pay $25 billion in Cambridge Analytica case
FROM THE WIRE · FINANCE.YAHOO.COM
The tail of the Cambridge Analytica data scandal is long — and it keeps costing Meta gargantuan sums of money. On Wednesday, a judge ordered the social media giant to initiate its biggest payout yet: $25 billion to the state of New Mexico for the tech giant's role in deceiving…
Read at the source ↗MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishA historic penalty that may weigh on the stock and Meta's privacy litigation.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01A judge ordered Meta to pay $25 billion to the state of New Mexico over data privacy practices.
- 02The jury found 43 million violations, each carrying a $5,000 penalty.
- 03The case also involved a third-party app linked to the Cambridge Analytica breach.
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