Madrid court hits Meta with $550 million penalty

A commercial court in Madrid ordered U.S.-based Meta Platforms Inc. to pay 479 million euros ($550 million) in compensation to domestic digital media outlets for data practices that breached competition and privacy rules, Reuters reports. Judges found the company gained an unfair advantage between May 2018 and July 2023 because it processed user data for behavioral advertising without complying with protection safeguards.