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Meta Platforms (META - Free Report) recently lost a legal battle in the European Union’s highest court over a German antitrust decision. The ruling restricted Meta from exploiting its dominance in social media by forcing users to share data through its services and third-party websites.
The court ruled that EU competition regulators can check if Meta follows the bloc's strict data privacy laws when they investigate its market dominance.
The court agreed with a German antitrust decision from 2019 that challenged Meta's business model of selling targeted ads based on data from its services. Meta appealed the decision, which led to the EU court's involvement.
The court stated that Meta can't use legitimate interest as a reason to process personal data for ads without users' consent. It also clarified that META should get separate permission from users to combine data from its different services.
Meta Platforms, Inc. Price and Consensus
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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