19-January-2022
Corporate News
 
Facebook faces $3.2 bn UK class action over using data for market dominance
14-Jan-2022

Social media giant Facebook, now known as Meta Platforms, faces a 2.3 billion pound plus ($3.2 billion plus) class action in Britain over allegations it abused its market dominance by exploiting the personal data of 44 million users. Liza Lovdahl Gormsen, a senior adviser to Britain's Financial Conduct Authority (FCA) watchdog and a competition law academic, said she was bringing the case on behalf of people in Britain who had used Facebook between 2015 and 2019. The lawsuit, which will be heard by London's Competition Appeal Tribubal, alleges Facebook made billions of pounds by imposing unfair terms and conditions that demanded consumers surrender valuable personal data to access the network.

News Source:- https://www.business-standard.com/article/international/facebook-faces-3-2-bn-uk-class-action-over-using-data-for-market-dominance-122011400090_1.html