Meta Platforms, the parent company of Facebook, is facing a £2.3 billion ($3.2 billion) class action lawsuit for abusing its market position to collect and exploit personal information from more than 44 million people. It’s one of the highest lawsuits in recent times.
Liza Lovdahl-Gormsen, a senior adviser to Britain’s Financial Conduct Authority (FCA) is bringing the case forward on behalf of the British people who used Facebook between 2015 and 2019. The lawsuit will be heard by London’s Competition Appeal Tribunal, which alleges that Facebook made billions of pounds by forcing unfair terms and conditions on its users, demanding people to give up their personal information (via Reuters).
"In the 17 years since it was created, Facebook became the sole social network in the UK where you could be sure to connect with friends and family in one place [...]
Yet, there was a dark side to Facebook; it abused its market dominance to impose unfair terms and conditions on ordinary Britons, giving it the power to exploit their personal data." Lovdahl Gornsen said.
Lovdahl-Gormsen claims that Facebook collected data using its platform, using tracking methods with tools such as Facebook Pixel. The Facebook Pixel technology allows the company to track users wherever they go, even if they leave the Facebook platform and visit a different website. This allows Facebook to create the full–picture of a person, and sell that to advertisers for a profit.
Facebook said that people use its services because it provides and delivers value to them, and the people have a “meaningful control of what information they share on Meta's platforms and who with.”
The lawsuit will likely take some time to pan out, and we’ll probably hear more information in the near future as it develops and Meta tries to defend its main money-making platform, Facebook.