Texas Sues General Motors Over Alleged Unauthorized Collection, Sale Of Driver Data, Attorney General Says Probe Uncovered 'Egregious Business Practices'
Portfolio Pulse from Benzinga Neuro
Texas has filed a lawsuit against General Motors (GM) for allegedly collecting and selling drivers' data without consent. The lawsuit follows an investigation that uncovered 'egregious business practices' by GM, including misleading customers about data collection. This comes amid increasing scrutiny over automakers' data-sharing practices.
August 14, 2024 | 3:03 am
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NEUTRAL IMPACT
The lawsuit against GM highlights broader concerns about automakers' data-sharing practices, including those of Honda Motor Co. U.S. Senators have urged the FTC to investigate these practices.
While the lawsuit is directly against GM, the mention of Honda in the context of broader data-sharing concerns could lead to increased regulatory scrutiny, but the immediate impact on Honda's stock is likely neutral.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 30
NEGATIVE IMPACT
Texas has filed a lawsuit against General Motors for allegedly collecting and selling drivers' data without consent. The investigation revealed 'egregious business practices' and misleading customers about data collection.
The lawsuit and the findings of 'egregious business practices' are likely to negatively impact GM's stock in the short term due to potential legal penalties and damage to the company's reputation.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100