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).
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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