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Meta has agreed to pay $1.4 billion to settle a lawsuit by the state of Texas over the Facebook owner's unauthorized use of biometric data by users, Texas Attorney General Ken Paxton said Tuesday. The suit, filed by Paxton in February 2022, accused Meta of capturing and using the biometric data of millions of Texas residents — which was contained in uploaded photos and videos on Facebook — without legally required permissions. Meta will pay out the $1.4 billion to Texas over five years, the office said. "Any abuse of Texans' sensitive data will be met with the full force of the law," Paxton said. Paxton's office is continuing to press a lawsuit against Alphabet , which accuses the Google owner of illegally collecting biometric data from millions of Texans.
Persons: Mark Zuckerberg, Meta, Ken Paxton, Paxton, McKool Smith, Keller Postman Organizations: U.S, Capitol, Facebook, Texans, Meta, CNBC Locations: Washington , U.S, Texas, Meta, Harrison County
Law firm alerts have gone so far as to call the appeal an “existential threat” to the entire syndicated loan market. The SEC later added to the suspense by requesting two more extensions from the 2nd Circuit, noting the complexity of the issue. On the other hand, any remaining uncertainty will be resolved as soon as the 2nd Circuit issues a ruling. But it’s a good bet that the trustee's lawyers from McKool will urge the 2nd Circuit to read the SEC’s silence as proof of the complexity of the issue. An earlier version incorrectly reported that Judge Michael Park was part of the 2nd Circuit panel that heard oral argument.)
Persons: Cromwell, JPMorgan Chase, Marc Kirschner, Paul Gardephe, Manhattan, Gardephe, McKool Smith, Jose Cabranes, Joseph Bianco, Myrna Perez, , Malcolm Stewart, Christopher Johnson, McKool, SEC wouldn’t, Michael Park, Alison Frankel, Leigh Jones Organizations: Sullivan, U.S . Securities, Exchange Commission, U.S, Circuit, SEC, 2nd, JPMorgan, Millennium, U.S . Justice Department, District, Trading Association, Securities Industry, Financial Markets Association, Justice Department, U.S . Treasury Department, Thomson, Reuters Locations: U.S .
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