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.
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
The 25 will likely be lowered further on appeal.
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
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
