Top Europe court rules against Meta Platforms on ad data retention [Seeking Alpha]
Meta Platforms, Inc. - Class A (META)
Company Research
Source: Seeking Alpha
The Court of Justice of the European Union found in favor of activist Max Schrems, who challenged Facebook Ireland on issues including harvesting data from the social platform indefinitely for targeted advertising. The principle of data minimization in Europe's General Data Protection Regulation "precludes any personal data obtained by a controller ... from being aggregated, analyzed and processed for the purposes of targeted advertising without restriction as to time and without distinction as to type of data," the CJEU found. It also noted that the fact that a person made an otherwise public statement about their sexual orientation doesn't authorize social networks to process other data tied to that person's orientation for the purpose of personalized ads. Meta ( META ) had responded that Schrems' personal data was processed in accordance with its terms of use, which it says are compatible with the GDPR, and that the data use is not contingent on the user's consent. The new
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META
News
- Mark Zuckerberg surpasses Jeff Bezos to become world's second-richest person [Yahoo! Finance]Yahoo! Finance
- Meta's Zuckerberg passes Jeff Bezos as world's 2nd wealthiest person [FOX Business Network]FOX Business Network
- OpenAI's $157 Bln Valuation Requires Hand Waving [Seeking Alpha]Seeking Alpha
- Meta announces new AI model that can generate video with sound [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- Meta faces new limits on ad-targeting in Europe as nemesis Max Schrems wins again at EU's highest court [Yahoo! Finance]Yahoo! Finance
META
Earnings
- 7/31/24 - Beat
META
Sec Filings
- 10/3/24 - Form 4
- 10/1/24 - Form 4
- 10/1/24 - Form 144
- META's page on the SEC website