New Mexico wants Meta to pay $40 billion in penalties for Cambridge Analytica scandal

New Mexico requested a judge to fine Meta Platforms between $35 billion and $40 billion for alleged Facebook privacy violations, citing 43.9 million instances of misleading consumers. The state claims Facebook misled users about data sharing and control, while Meta argues the penalties are excessive. A judge will decide the fine amount, with a ruling expected later this month.

New Mexico seeks $35B-$40B fine against Meta for alleged consumer protection violations, citing 43M+ law breaches. Meta argues the penalty is unconstitutionally excessive. A judge has yet to rule. The case stems from a jury finding Meta misled users on privacy and content policies, including data harvesting by Cambridge Analytica.

New Mexico is seeking up to $40 billion from Meta following a jury ruling that found the company misled consumers about Facebook's data privacy practices.

New Mexico seeks $35-$40 billion in penalties from Meta for alleged privacy violations, following a jury verdict. Meta argues the requested amount is unconstitutional and excessive, proposing a $3.45 billion cap. The judge will decide the penalty later this month.

New Mexico seeks $35-$40B penalty against Meta Platforms (META) for misleading users on Facebook data privacy, per a jury verdict. META's GF Value suggests 15.5% undervaluation, with a GF Score of 97/100. Insiders sold $259.9M shares in the past year. The case relates to the Cambridge Analytica scandal involving 87M users' data.

New Mexico seeks $35B-$40B in penalties from Meta (META) in a privacy case linked to Cambridge Analytica. META stock rose 0.4% overnight. The jury found Meta misled consumers on data privacy, misinformation, and hate speech. Meta argues the penalty should be capped at $3.45B. Shares have risen 27% last month on AI strategy enthusiasm.