Meta Facing $11.8 Billion In Fees
- last year
The European Union issued a list of objections to Meta ($META@US) on Monday, citing that its Facebook Marketplace breaches antitrust rules. It said that Facebook Marketplace, which allows users to list items for sale, giving it a “substantial distribution advantage that competitors cannot match.” It claimed that connecting Facebook Marketplace with personal Facebook accounts gave users no choice but to use the online classified service. If Meta is found in violation of the breach, it could face changes to its business practices or a fine of 10% of its global revenue, which could be as much as $11.8 billion.