• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

Facebook-parent Meta settles with Australia’s privacy watchdog over Cambridge Analytica lawsuit

by December 17, 2024
written by December 17, 2024

(Reuters) – Meta Platforms (NASDAQ:META) has agreed to a A$50 million settlement ($31.85 million), Australia’s privacy watchdog said on Tuesday, closing long-drawn, expensive legal proceedings for the Facebook parent over the Cambridge Analytica scandal.

The Office of the Australian Information Commissioner had alleged that personal information of some users was being disclosed to Facebook’s personality quiz app, This is Your Digital Life, as part of the broader scandal.

The breaches were first reported by the Guardian in early 2018, and Facebook received fines from regulators in the United States and the UK in 2019.

Australia’s privacy regulator has been caught up in the legal battle with Meta since 2020. The personal data of 311,127 Australian Facebook users was “exposed to the risk of being disclosed” to consulting firm Cambridge Analytica and used for profiling purposes, according to the 2020 statement.

It convinced the high court in March 2023 to not hear an appeal, which is considered to be a win that allowed the watchdog to continue its prosecution.

In June 2023, the country’s federal court ordered Meta and the privacy commissioner to enter mediation.

“Today’s settlement represents the largest ever payment dedicated to addressing concerns about the privacy of individuals in Australia,” the Australian Information Commissioner Elizabeth Tydd said.

Cambridge Analytica, a British consulting firm, was known to have kept personal data of millions of Facebook users without their permission, before using the data predominantly for political advertising, including assisting Donald Trump and the Brexit campaign in the UK.

A Meta spokesperson told Reuters that the company had settled the lawsuit in Australia on a no admission basis, closing a chapter on allegations regarding past practices of the firm.

($1 = 1.5699 Australian dollars)

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
UMC wins Qualcomm advanced packaging order, challenges TSMC’s lead- Economic Daily
next post
China capital markets witness record outflows in Nov, official data shows

You may also like

Adani, Ambani news units sue OpenAI over copyright,...

March 13, 2026

China’s DeepSeek sets off AI market rout

March 13, 2026

BASF results down on impairments, restructuring

March 13, 2026

Nasdaq futures tumble as China’s AI push rattles...

March 13, 2026

European chipmakers slump as traders gauge DeepSeek AI...

March 13, 2026

Fuji Media, rocked by sexual misconduct allegations, says...

March 13, 2026

China Vanke’s CEO, chairman resign amid growing liquidity...

March 13, 2026

Italy’s MPS shares fall ahead of Mediobanca board...

March 13, 2026

UMG shares rally after new multi-year pact with...

March 13, 2026

British Land stock drops following stake sale

March 13, 2026
Sign up and get the scoop before anyone else—fresh updates, and secret deals, all wrapped up just for you. We're talking juicy tips, fun surprises, and invites to events you actually want to go to. Don’t just watch from the sidelines—jump in and be part of the magic!








    By signing up, you're cool with getting emails from us. Don’t worry — your info stays safe, sound, and strictly confidential. No spam, no funny business. Just the good stuff.

    Recent Posts

    • Trump administration alleges Nike discriminated against white workers

      March 13, 2026
    • Landmark trial accusing social media companies of addicting children to their platforms begins

      March 13, 2026
    • Retail operator of outdoor sportswear pioneer Eddie Bauer files for bankruptcy

      March 13, 2026
    • Cardi B’s cameo in Bad Bunny’s Super Bowl halftime show leads to dispute on prediction markets

      March 13, 2026

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (690)
    • Stock (6,426)

    Latest News

    • Trump administration alleges Nike discriminated against white workers
    • Landmark trial accusing social media companies of addicting children to their platforms begins

    Popular News

    • Allianz weighs options for AllianzGI unit, sources say
    • Russian gas exports via Ukraine to Europe stable despite Austria cuts

    About The Significant deals

    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2026 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy