Texas AG Secures $1.4B Settlement With Meta Over Biometric Case
Portfolio Pulse from Benzinga Newsdesk
Texas Attorney General has secured a $1.4 billion settlement with Meta Platforms Inc. over a biometric data privacy case.
July 30, 2024 | 1:50 pm
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Meta Platforms Inc. has agreed to a $1.4 billion settlement with the Texas Attorney General over a biometric data privacy case. This significant financial settlement could impact Meta's stock price in the short term.
The $1.4 billion settlement is a substantial financial outlay for Meta, which could negatively impact its stock price in the short term as investors react to the news. Legal settlements of this magnitude often lead to a decrease in investor confidence and a potential sell-off.
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