From SiliconANGLE · James Farrell · · 1m
Meta Ordered $25 Billion Privacy Fine
Meta faces $25 billion penalty for data deception after jury rules on privacy violations.
In brief
Meta faces $25 billion penalty for data deception after jury rules on privacy violations. Meta paid $25 billion after a jury found it misled users on data privacy for 10 years. Originally reported by SiliconANGLE.
Meta Ordered $25 Billion Fine
Meta Platforms Inc. was ordered to pay $25 billion in penalties after a jury found the company misled users on data privacy.
Jury Ruling Details
The jury found 43 million violations of New Mexico’s unfair practices act with each violation carrying up to $5,000 penalty.
Penalty Reduction
Judge Francis Mathew reduced the original $219.5 billion award to $25 billion after trial.
Previous Settlements
Meta agreed to $17.1 billion settlement with U.S. states over claims of deliberate product addiction.
Financial Impact
Meta’s quarterly profits fell below Wall Street expectations after a $9.9 billion settlement charge.
Legal Challenges
Meta faces 15% penalty increase for each year unpaid and thousands of lawsuits related to child safety and privacy.
The short version
Meta paid $25 billion after a jury found it misled users on data privacy for 10 years.
