BlocksInform
meta platforms inc (nasdaq:fb) could end up paying a whopping $3.1 billion, following a class action in the u.k. over allegations of the internet giant exploiting the personal data of 44 million users in the country.
class action
according to fox business, meta could pay $3.1 billion in damages to its u.k. users for taking all their personal and private in exchange for the ability to use the facebook platform.
Thus, meta abused its dominance in the social media spectrum between 2015 and 2019—legal expert Dr. Liza lovdahl gormsen carries out the action against the society.
As reported by , lovdahl is a senior advisor to the financial driving authority (fca) in Britain, while quinn emanuel urquhart.
The trial alleges that meta benefited from the imposition of unfair terms that compelled users to submit valuable personal information - it is supported financially by innsworth, one of the largest litigants in the world.
case grounds
The society responded by saying that people "have meaningful control over what information they share on the platforms and with whom."
Lovdahl said, "since its founding 17 years ago, facebook became the only social network in the uk where you could be sure to connect with friends and family in one place."
"however, there was a dark side on facebook; it abused its market dominance to impose unfair conditions on ordinary brits, giving it the power to exploit their personal data," she added.
The lawsuit arrives days after meta has not had judge james boasberg dismissing a matter antitrust headed by the federal trade commission (ftc), that has become one of the most difficult tasks undertaken by the american government against a technology company in years.
meta is part of the entrepreneur index, which tracks 60 of the largest publicly traded companies managed by their founders or their founders’ families.
