- The Irish Data Protection Commission has offered a month and a half time to Facebook Inc FB to respond to an investigation that may lead to a ban on its transatlantic data transfers based on a High Court order, Reuters reports.
- Facebook had challenged both the probe and the provisional order justifying the company’s reliance on user data processing for targeting online ads.
- The dispute was partly triggered by abolishing the EU-approved trans-Atlantic transfer tool over citizens’ data safety concerns.
- The decision could lead to the suspension of the transfer of E.U. users’ personal information to Facebook’s U.S. servers.
- Price action: FB shares traded higher by 2.77% at $325 on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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