New Mexico wants Meta to pay up to $40 billion in penalties after data privacy trial

In a legal battle stemming from the Cambridge Analytica scandal, the state of New Mexico has requested that Meta Platforms pay between $35 billion and $40 billion in penalties. The trial, which concluded on September 25, found that Meta misled consumers about the privacy of their data on Facebook. The lawsuit alleges that the company knew third parties had access to users' personal data and tolerated hate speech on the platform.

Attorneys for both sides disagreed on the appropriate penalty, with Meta arguing that the state's proposed fines were excessive. Judge Francis Mathew will decide the amount, which could impact Meta's stock price as it would amount to around 20% of the maximum penalties.