Meta Sued by Pension Funds Over EU’s $1.3 Billion Privacy Fine

Meta Platforms Inc.'s leaders appear to have steered it into a record $1.3 billion EU fine by failing to clean up the data practices behind years worth of privacy scandals, two pension funds said in court papers Monday.

A union fund and Rhode Island’s employee retirement system sued the tech giant for internal company documents, claiming they have credible suspicions that Meta’s senior leaders are to blame for the “historic” penalty. The fine in May 2023 stemmed from a broader crackdown on the company for transferring the data of European users to US-based servers that provide backdoor access to American ...