Britain Regulator Fines Facebook $70 Million
Interactive Video
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Business, Social Studies
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9th - 12th Grade
•
Hard
Wayground Content
FREE Resource
Britain's competition regulator fined Facebook $70 million for not complying with an order during its acquisition of Giphy. The Competition and Markets Authority (CMA) stated that Facebook ignored multiple warnings and failed to provide necessary information. This penalty serves as a reminder that no company is above the law. Facebook responded by stating they will review the CMA's decision and consider their options.
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