Meta Fined Record €1.2B In EU Over US Data Transfers
Portfolio Pulse from Charles Gross
Meta has been fined a record €1.2 billion by the European Union over US data transfers, marking the largest penalty ever imposed by the EU on a single company.
May 22, 2023 | 9:13 am
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Meta faces a record €1.2 billion fine from the EU over US data transfers, which could negatively impact its stock price in the short term.
The record €1.2 billion fine imposed on Meta by the EU is a significant financial burden for the company and could lead to increased regulatory scrutiny. This may result in short-term downward pressure on Meta's stock price as investors react to the news and reassess the company's risk profile.
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