Meta (META) Loses a New Mexico Jury Verdict Over Facebook Data Practices
Source: Insider Monkey ·
Meta Platforms, Inc. (NASDAQ:META) lost a civil jury verdict in Santa Fe on September 25. The jury found that the company misled New Mexico residents about how Facebook handled their personal information. The shares fell 3.33% to close at $751.66. The case took five years to reach trial. It reaches back further than that, to […]
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Meta Platforms, Inc. (NASDAQ: META ) lost a civil jury verdict in Santa Fe on September 25. The jury found that the company misled New Mexico residents about how Facebook handled their personal information. The shares fell 3.33% to close at $751.66. The case took five years to reach trial. It reaches back further than that, to Cambridge Analytica. READ ALSO: Meta (META) Overhauls Instagram and Facebook for Teens after its $17 Billion Settlement One State's Verdict Against a $228 Billion Business: New Mexico's attorney general filed the suit in 2021. That was three years after reporting revealed that Cambridge Analytica had harvested personal data belonging to Facebook users without their knowledge. The state's argument was not that information leaked. It was that Meta described its privacy practices one way to users while permitting something else behind the interface. A jury agreed after a two-week trial. That distinction carries more weight than it first appears. A breach is a…