Meta almost has to pay 840 million US dollars informs 24 Channels by reference TechCrunch. The hefty fine follows a lengthy investigation into Meta’s Facebook Marketplace service, which regulators said created an “unfair trading environment” for rival online marketplaces.

The investigation, which started in June 2021, reached the following conclusion in December 2022: Facebook Marketplace activities violate EU antitrust rules. After a legal process that lasted nearly two years, the Commission finalized the penalty and made its decision.

Meta responded by announcing its intention to appeal the decision, arguing that the decision did not recognize the competitive environment in the European online classifieds market. Meta says the decision limits competitors on Facebook’s new Marketplace platform, which it describes as an “innovative and useful” platform that meets consumer demand.

Meta penalties

• In May 2023, the company was fined more than $1 billion for GDPR violations. Additionally, Meta faced other legal problems in Europe.
• In December 2023, the company faced a $600 million lawsuit in Spain for privacy violations.

Regulatory lawsuits can last years, and Meta is in various stages of appealing these penalties.

Some of these ultimately result in the company paying. In the US, it settled a lawsuit with the FTC in 2019, paid $5 billion and implemented new privacy practices.