Meta Platforms Inc. Takes Action Against Nude Image Spread
Meta Platforms Inc. has filed a lawsuit against a Hong Kong-based business for allegedly promoting nude images on its platforms, Facebook and Instagram. The lawsuit is part of the company’s efforts to crack down on digital harassment and maintain a safe online environment.
The lawsuit has led to a 1% drop in Meta’s shares. The company is also facing a fine imposed by European Union regulators, which it believes is unfair and disproportionate. Meta, along with TikTok, is taking the matter to court, arguing that the fine is based on flawed calculations.
Stock Performance
Meta’s stock has gained 4.93% over the past five trading sessions and 17.22% year-to-date, but its price has been volatile due to mixed results from its Q1 earnings announcement. Investors are considering various stock price targets for the company, riding a bullish trend.
Key Developments
- Meta has filed a lawsuit against a Hong Kong-based business for allegedly promoting nude images on its platforms.
- The company is challenging a fine imposed by European Union regulators, arguing that the fine is based on flawed calculations.
- Meta’s stock has gained 4.93% over the past five trading sessions and 17.22% year-to-date.
Regulatory Actions
- European Union regulators have imposed a fine on Meta, which the company believes is unfair and disproportionate.
- Meta, along with TikTok, is taking the matter to court, arguing that the fine is based on flawed calculations.