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00:02Meta Platforms has been ordered to pay $25 billion after a New Mexico jury found the
00:07company misled Facebook users about its handling of personal data and other practices, according
00:12to Fox Business.
00:13The case stems from the Cambridge Analytica scandal, in which the political consulting
00:17firm obtained data from as many as 87 million Facebook users without their consent.
00:22Jurors found that 26 of 29 statements examined during the trial were misleading, resulting
00:27in more than 43 million New Mexico consumer protection violations.
00:32Judge Francis Matthews said Facebook's wrongdoing spanned years and was central to its business
00:37practices.
00:38Matthews reduced the penalty from a potential $219 billion to $25 billion.
00:43Meta had sought a $3.45 billion limit and plans to appeal.
00:47The company's chief legal officer said the ruling would make it nearly impossible to do
00:51business in New Mexico.
00:53For all things money, visit Benzinga.com
