Meta's 'Pay Or Consent Model' To Draw Charges From EU: Report
Portfolio Pulse from Benzinga Neuro
The European Union is preparing to charge Meta Platforms Inc. (NASDAQ:META) with a breach of digital regulations under the Digital Markets Act. The charges relate to Meta's 'pay or consent' model, which critics argue coerces users into data tracking. This follows a similar case against Apple Inc. Penalties could reach up to 10% of Meta's global turnover.
July 01, 2024 | 8:28 am
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The EU is set to charge Meta for breaching digital regulations with its 'pay or consent' model. This could result in significant penalties, potentially up to 10% of Meta's global turnover.
The EU's charges against Meta for its 'pay or consent' model could lead to significant financial penalties and increased regulatory scrutiny. This is likely to negatively impact Meta's stock price in the short term.
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