over allegations the social media giant abused its dominant position to monetise users’ personal data.
Legal academic Liza Lovdahl Gormsen, who is bringing the case, said Facebook users were not properly compensated for the value of personal data that they had to provide to use the platform. But Meta said the lawsuit was “entirely without merit” and should not be allowed to proceed. Its lawyers said the claimed losses ignore the “economic value” Facebook provides.
A decision to certify collective proceedings will depend on whether the tribunal decides that the individual cases can appropriately be dealt with together, rather than on their merits.
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Facebook seeks to block $3.7 billion UK mass action over market dominanceLONDON : Facebook on Monday asked a London tribunal to block a collective lawsuit valued at up to 3 billion pounds ($3.7 billion) over allegations the social media giant abused its dominant position to monetise users’ personal data.Meta Platforms Inc, the parent company of the Facebook group, is facing
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The future of Chinese tech stocks: Is it time to invest in them again?The Chinese stock market has seen a difficult two years. Starting with harsh regulatory crackdowns in late 2020, and then followed by strict Covid-19 lockdowns that saw entire cities grind to a standstill, the result was billions of dollars wiped off the books of China’s tech giants and once-promising enterprises. However, things are headed for a change. China is attempting...
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