New Mexico Seeks Up to $40B Penalty From Meta After Privacy Verdict
META sits 40% above its 52-week low of $520.26.
Summary
New Mexico is asking a judge to impose a $35B-$40B penalty on Meta after a September jury found the company misled users 43 million times about data privacy. Meta argues the amount is 'astronomical' and wants damages capped at $3.45B. The judge will rule later this month. This follows Meta's $18B settlement with 48 states in August and a $2.4B legal charge in Q2, signaling escalating regulatory costs. The final penalty could materially impact Meta's financials, though the company's $1.85T market cap provides some cushion.
At the time of this announcement, META was trading at $726.77 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.8T. The 52-week trading range was $520.26 to $779.82. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Benzinga.