Social media giant Meta Platforms (NASDAQ:META) has been fined about $277 million for breaching data privacy regulations by the Data Protection Commission in Europe (Ireland).
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The regulator noted that Meta infringed upon sections of the General Data Protection Regulation. The fine comes after an investigation into a data breach of over 533 million users from over 100 countries.
Shares of the company have now tanked nearly 67% over the past year. Analysts, meanwhile, remain cautiously optimistic about Meta with a Moderate Buy consensus rating alongside an average price target of $147.24.
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