Meta, the parent company of Facebook, faces a billionaire lawsuit

Meta, the parent company of Facebook, faces a billionaire lawsuit
Meta, the parent company of Facebook, faces a billionaire lawsuit

The company Meta, parent company of Facebook, faces a lawsuit, already admitted for processing by the Federal Trade Commission (FTC), of up to 2,300 million pounds (2,755 million euros) for alleged anti-competitive practices through its “abuse of its market dominance”.

As reported by Reuters, up to 44 million Facebook users in the United Kingdom are affected by this fact, denounced by the competition expert Liza Lovdahl Gormsen, which alleges that Meta “abused its market dominance” to set an “unfair price” for free use of Facebook: UK users’ personal data.

The demand, which will be heard by the London Court of Competition Appeal, alleges Facebook made billions of pounds by imposing unfair terms and conditions that required consumers to hand over such personal data.

This data, collected between 2015 and 2019, provided a very detailed picture of internet usage, helping the company gain “excess profits”. Anyone who lives in the UK and has used Facebook at least once during the period will be part of the claim unless they opt out, according to the plaintiff.

The company argues in its defense that people used its services because it provided value and “they have a significant control of what information they share on Meta platforms and with whom”.

TAG: Meta parent company Facebook faces billionaire lawsuit

 
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