00:00It's Benzinga bringing Wall Street to Main Street
00:02New Mexico is asking a judge to order Meta platforms to pay between $35 billion and $40
00:07billion in penalties after a jury found the company misled consumers about Facebook data
00:12privacy, according to Reuters.
00:14The case stems from the Cambridge Analytica scandal, which involved personal data harvested
00:18from as many as 87 million Facebook users without their consent.
00:22Jurors examined 29 statements from Meta and its leadership and found 26 misleading, resulting
00:27in more than 43 million violations of New Mexico consumer protection laws.
00:31Meta called the requested penalty unconstitutional and urged the judge to cap penalties at $3.45
00:37billion.
00:38Judge Francis Matthews said he expects to issue a ruling later this month.
00:41For all things money, visit Benzinga.com
