Meta's Efforts To Stall FTC's Reopening Of Facebook Privacy Settlement Rejected By Court
Portfolio Pulse from Ananya Gairola
Meta Platforms Inc. (NASDAQ:META) has been denied a request to delay the FTC's re-evaluation of its Facebook division's alleged privacy violations. The U.S. Court of Appeals for the D.C. Circuit ruled against Meta, stating the company did not meet the requirements for an injunction. This decision is part of a series of setbacks for Meta, following a 2020 privacy settlement which the FTC is seeking to amend. The amendments include a ban on exploiting minors' data and expanded restrictions on facial recognition technology.
April 01, 2024 | 1:30 am
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Meta Platforms Inc. faces a legal and regulatory setback as its request to delay the FTC's re-evaluation of Facebook's privacy violations is denied. This could lead to stricter privacy amendments.
The court's decision to deny Meta's request to delay the FTC's re-evaluation signifies a legal and regulatory challenge for the company. This could potentially lead to stricter privacy amendments, including a ban on exploiting minors' data and expanded restrictions on facial recognition technology. Such developments could negatively impact Meta's operations and public perception, likely leading to a short-term negative impact on its stock price.
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