Judge schedules trial in Meta antitrust case
The Federal Trade Commission's (FTC) antitrust lawsuit against Facebook and Instagram's parent company Meta will go to trial on April 14th. U.S. District Judge James Boasberg has scheduled a bench trial, meaning the case will not go to a jury and a judge will decide the outcome of the case. The case has been poised […]
Supreme Court dismisses appeal from Facebook owner Meta over securities fraud lawsuit
Michael Lee, founder of Michael Lee Strategy, discusses the decline in Microsoft and Meta stocks and explains why you should invest in these two companies. The Supreme Court on Friday rejected an appeal by Facebook owner Meta Platforms in a securities fraud case accusing the tech giant of misleading investors in a data collection scandal […]
EU fines Meta over $840 million for ‘abusive practices’ favoring Facebook Marketplace
Meta was fined more than $840 million on Wednesday after a three-year legal process for violating European Union antitrust rules related to market dominance. According to , the multinational company was penalized for tying the online classified advertising service Facebook Marketplace to the personal social network Facebook. release. This feature allows Meta to use data […]
Meta Slapped with $840 Million Fine in Europe over Anticompetitive Practices
Mark Zuckerberg's Meta, the parent company of Facebook, Instagram and WhatsApp, was awarded €797.72 million by the European Commission for breaching EU antitrust rules related to Facebook Marketplace, its online classified advertising service. The company was fined a huge amount (approximately $840 million). tech crunch report The European Commission announced yesterday that it will fine […]
Meta must face FTC’s antitrust suit over Instagram, WhatsApp acquisitions
Federal Trade Commission lawsuit seeks settlement with Facebook owner Metaplatforms over claims it acquired Instagram and WhatsApp to crush new competition in social media The case must go to trial, a Washington judge ruled Wednesday. Judge James Boasberg ruled against Meta's motion to end a lawsuit filed against Facebook in 2020 during the Trump administration, […]
Meta warns of ‘significant acceleration’ in costs tied to AI after strong Q3
Facebook owner Metaplatforms on Wednesday beat analysts' expectations for third-quarter revenue and profit, but warned that infrastructure spending related to artificial intelligence would “accelerate significantly.” The results sent mixed signals to investors about whether digital ad sales from Meta's core social media business will continue to cover the costs of building AI at scale. Shares […]
House Republican presses Meta on censoring political content
Texas Rep. August Pflueger (R) expressed concern in a letter to Meta on Tuesday about the platform's decision to automatically opt out of users from political content, saying the platform's users should He argued that they should be able to make that decision. “I write this letter to reiterate my concerns about Meta Platforms, Inc.'s […]
Meta suspends account that monitored Mark Zuckerberg flights
Meta has suspended multiple accounts that were monitoring the private jet flights of top celebrities and tech moguls, including Mark Zuckerberg, Jeff Bezos, Kim Kardashian, and Elon Musk. Jack Sweeney, the Florida-based college student who was fired by Mr. Musk for managing an account that tracked the billionaire's private jet flights, said Mr. The company […]
Meta to face Massachusetts lawsuit claiming its features purposefully addict children
FOX Business' Madison Alworth breaks down “Morning with Maria.” Despite Meta's attempts to dismiss the lawsuit, Massachusettswhich claims some of its features are intentionally designed to make children addicted to its platform, will proceed with the lawsuit, a judge ruled in a ruling released Friday. Meta who owns Facebook and instagramhad argued that the lawsuit […]
Meta fires staff who abused $25 meal vouchers: report
Mark Mahaney, Head of Internet Research at Evercore ISI, reveals key Big Tech stocks during an appearance on “Varney & Co.” tech giant meta The company has reportedly fired about 20 Los Angeles-based employees for misusing the company's $25 meal vouchers to purchase non-food household items. of The Financial Times reported Meta fired workers last […]