Why Meta (META) Stock Is Sliding Today - Meta Platforms (NASDAQ:META)

The Data Protection Commission (DPC) penalized Meta Platforms, Inc META €265 million and ordered a range of corrective measures.
The DPC commenced this inquiry on 14 April 2021, following reports into the discovery of a collated dataset of Facebook personal data that had been made available on the internet.
Also Read: Facebook, Instagram Fall Prey To Data Scraping; Indict Chinese Company
The scope of the inquiry concerned the assessment of Facebook Search, Facebook Messenger Contact Importer, and Instagram Contact Importer tools about processing carried out by Meta Platforms Ireland Limited (‘MPIL’) between 25 May 2018 and September 2019.
Meta held $41.78 billion in cash and equivalents as of 30 September, 2022.
The users from 106 countries were affected at the time, including up to 1.5 million Irish accounts, Silicon reports.
This information from ‘scraped data’ included phone numbers, Facebook IDs, names, locations, birthdates, and email addresses.
Price Action: META shares traded lower by 2% at $109.18 on the last check Monday.

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Irish Data Protection Commissioner Penalizes Meta €265M For Data Scraping