Meta Fined $840 Million in Europe for Boosting Marketplace Unfairly
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Meta has been fined $840 million by the European Union for allegedly abusing its dominance in social networking to unfairly boost its Marketplace service. Meta plans to appeal the decision.
November 14, 2024 | 2:45 pm
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Meta has been fined $840 million by the EU for allegedly using its dominance in social networking to unfairly promote its Marketplace service. Meta intends to appeal the decision.
The fine represents a significant financial penalty and highlights regulatory challenges Meta faces in Europe. The appeal process may prolong uncertainty, potentially affecting investor sentiment negatively in the short term.
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