Costco Sued, Accused Of Sharing Confidential Health Data With Facebook
Portfolio Pulse from Anusuya Lahiri
Costco Wholesale Corp is facing a lawsuit accusing it of sharing sensitive customer information with Meta Platforms Inc, without customer approval. The lawsuit alleges that Costco used Meta's analytical tool, Meta Pixel, on its website, compromising customer privacy. The tool allegedly provided Meta with access to personal data, including health information of pharmacy users. The plaintiffs are demanding a trial by jury, financial damages, and a declaration of Costco's alleged unlawful conduct.
October 11, 2023 | 12:36 pm
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NEUTRAL IMPACT
Meta Platforms is indirectly involved in a lawsuit against Costco for allegedly sharing sensitive customer data. However, Meta is not named as a defendant in the case.
Although Meta's tool was allegedly used by Costco to share sensitive customer data, Meta is not named as a defendant in the lawsuit. Therefore, the impact on Meta's stock price is likely to be neutral in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Costco is facing a lawsuit for allegedly sharing sensitive customer data with Meta Platforms. This could potentially harm the company's reputation and customer trust.
The lawsuit against Costco could potentially harm the company's reputation and customer trust, which could negatively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100