Meta Loses Another EU Lawsuit Shortly After Hefty Penalty For Data Privacy Breach
Portfolio Pulse from Anusuya Lahiri
Meta Platforms, Inc (NYSE:META) lost a lawsuit with EU regulators who ordered vast amounts of data to build an antitrust case against the company. The EU General Court ruled that Meta failed to prove the request was unnecessary. This comes after Meta was recently hit with a record $1.3B penalty for data privacy violation.
May 24, 2023 | 11:00 am
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Meta Platforms lost an EU lawsuit over data requests for an antitrust case, following a recent $1.3B penalty for data privacy violation.
Meta's loss in the EU lawsuit and the recent hefty penalty for data privacy breach could negatively impact the company's stock price in the short term. The legal and regulatory issues may raise concerns among investors and affect the company's reputation.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Apple was mentioned in the context of EU investigations into its app store.
Apple was mentioned in the context of EU investigations, but the article does not provide enough information to determine the potential short-term impact on the company's stock price.
CONFIDENCE 80
IMPORTANCE 30
RELEVANCE 50
NEUTRAL IMPACT
Amazon was previously under EU scrutiny for its mode of data collection from retailers, which has now been settled.
Although Amazon was mentioned in the context of EU scrutiny, the issue has been settled, and it is unlikely to have a significant short-term impact on the company's stock price.
CONFIDENCE 80
IMPORTANCE 30
RELEVANCE 50