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How will Meta's stock price react one week after the $1.4B settlement with Texas AG?
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Stock market data from financial news sources
Story
Meta Faces $7B Class-Action Lawsuit, Agrees to $1.4B Settlement with Texas AG Ken Paxton
Jul 30, 2024, 01:52 PM
Meta Platforms faces a $7 billion class-action lawsuit for allegedly inflating its Potential Reach metric by up to 400%, including bots and fake accounts in its audience figures on Facebook and Instagram. Additionally, Meta has agreed to pay $1.4 billion to the state of Texas to settle claims that the company profited from facial recognition technology without user consent. This settlement, secured by Texas Attorney General Ken Paxton, is the largest ever obtained from an action brought by a single state over unauthorized capture of personal biometric data.
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