A judge on Wednesday ordered Meta to pay New Mexico $25 billion after a jury found the company liable for deceiving users about privacy and content moderation policies on Facebook.

Judge Francis Mathew handed down the amount, which state Attorney General Raúl Torrez described as "one of the largest, if not the single largest state verdict against a company in American history.”

Torrez said the verdict should be a warning for tech companies and that New Mexico would continue to hold them accountable.

all 12 comments

sorted by: hot top controversial new old
[–] 22 points 2 weeks ago (3 children)

Ordered to pay 219 billion, which was immediately reduced to 25 billion

Which means they just fucked the people out of $194,000,000,000

  • source
  • hideshow 3 child comments
  • [–] 7 points 2 weeks ago (2 children)

    The 25 will likely be lowered further on appeal.

  • source
  • parent
  • hideshow 2 child comments
  • [–] 13 points 2 weeks ago (3 children)

    This is less than 2 quarters of income or 1/4 of a quarter's revenue. It's cost of doing business for their size

  • source
  • hideshow 3 child comments
  • [–] 9 points 2 weeks ago* (2 children)

    Disagree. Nearly a month's worth of revenue is nothing to sneeze at. I do agree that the fines need to be higher though, preferably a percentage. I'm of the mind that fines should be 1% of YoY global worldwide revenue per person affected per infraction

  • source
  • parent
  • hideshow 2 child comments
  • [–] 3 points 2 weeks ago

    Fines should be separated into two categories.

    Fine applied against the company for minor regulatory issues (avoiding fees, mis-reporting finances, accidents, etc.)

    Fines applied against the executives personal assets for criminal activity. This would be for deliberate actions that causes harm. These should start out at a minimum 1 years gross income per instance and go up from there.

    It would take redefining the limited liability of corporations to only apply to minor things or true accidents.

  • source
  • parent
  • [–] 6 points 2 weeks ago

    A good start.

  • source
  • [–] 2 points 2 weeks ago

    Great. Now do Whatsapp and Instagram.

  • source
  • [–] 2 points 2 weeks ago

    Pay to whom? To the users that was deceived?

  • source
  • [–] 1 point 2 weeks ago* (last edited 2 weeks ago)

    … and recouped the fine (and more) in AH trading following their earnings call. They’re doing a cap raise by issuing new (non-voting) shares. Zuck is diluting FB/META stock to pay his California Tax Bill. Fuck Zuck. Fuck Meta. Fuck the slop bubble.

  • source