July 31, 2024 at 03:06AM
Meta has agreed to a $1.4 billion settlement with Texas over a privacy lawsuit involving alleged unauthorized use of biometric data. Texas Attorney General Ken Paxton called it the largest state-secured settlement. This follows a $650 million settlement in Illinois. Meta’s total biometric privacy settlements now exceed $2 billion. The company has also faced lawsuits from other states and is set to report its second-quarter earnings.
From the meeting notes, it seems that Meta has agreed to a $1.4 billion settlement with Texas in a privacy lawsuit over allegations that the company used biometric data of users without their permission. This settlement is the largest secured by a single state and is a historic demonstration of commitment to holding technology companies accountable for breaking the law and violating privacy rights.
It’s worth noting that Meta has paid over $2 billion in settlements for biometric privacy claims to date, sending a signal to other companies to be careful when trading in individuals’ biometric information.
On the business front, the $1.4 billion settlement is unlikely to make a substantial dent in Meta’s business, given that the company made a significant profit and revenue in the first three months of the year.
There are also mentions of related lawsuits filed against Google and upcoming earnings results for Meta.
Overall, these meeting notes provide a clear overview of the significant developments related to the privacy lawsuit and its financial implications for Meta.