New Mexico Seeks Up to $40 Billion From Meta After Jury Finds 43 Million Privacy Violations

Benzinga··US·Read original
4▲0 ▼1Impact / 5
Summary · why it matters

New Mexico has asked a judge to order Meta Platforms to pay between $35 billion and $40 billion after a jury found the Facebook parent misled users about data privacy, access and content policies. The request, reported by Reuters, follows a September jury verdict that found the company violated state consumer protection laws more than 43 million times. The lawsuit, filed in 2021, stemmed from the Cambridge Analytica scandal, in which the political consulting firm obtained personal information from as many as 87 million Facebook users through a third-party app without their consent; jurors reviewed 29 statements made by Meta and its executives and found 26 misleading. New Mexico law allows penalties of up to $5,000 per violation, and state attorney Randi McGinn said the requested $35 billion to $40 billion would provide a meaningful penalty while avoiding due-process concerns. Meta attorney Matt Nicholson called the request an astronomical penalty and urged the judge to cap damages at $3.45 billion, arguing the state did not prove consumers were actually misled and that Meta does not sell user data. Judge Francis Mathew, who presided over the trial in Santa Fe, will determine the final amount and said he expects to issue a ruling later this month.

Impact on assets 1

Spatial Computing / AR/VR▼ · 1 stocks
Meta Platforms Inc.
META
▼ NegativeRegulationrelevance

New Mexico seeks $35-40B in penalties after a jury found Meta violated state consumer protection laws 43 million times over privacy.