Stock Market News

EU acted like a fishing trawler in antitrust data searches, Meta lawyer says

2022.06.01 12:40

EU acted like a fishing trawler in antitrust data searches, Meta lawyer says
The logo of Meta Platforms is seen in Davos, Switzerland, May 22, 2022. Picture taken May 22, 2022. REUTERS/Arnd Wiegmann

By Foo Yun Chee

LUXEMBOURG (Reuters) – Meta Platforms Inc on Wednesday compared searches by EU antitrust regulators to a fishing super trawler as they investigate the owner of Facebook (NASDAQ:FB)’s data and online marketplace.

Meta says it has already handed over more than a million documents to the European Commission since its first request in 2019 regarding its Facebook Marketplace, social networking and online classified ads.

It has, however, questioned the necessity and proportionality of the data requests and the reasons provided by the EU competition watchdog. The company has also criticised the agency’s use of 2,500 search phrases – including “big question”, “for free” and “not good for us” – to trawl the company’s documents.

The company, which faces an 8 million euro ($8.6 million) daily penalty payment if it does not comply with the demands, subsequently took its grievance to the General Court, the EU’s second highest.

“One needs to put together the vague nature of what is under investigation with these extraordinarily wide ranging and general search terms. Once one does that, it is, with respect, obvious what is going on here. This is a classic fishing expedition,” Meta lawyer Daniel Jowell told the panel of five judges.

“Indeed, we would go further. The Commission is operating like a fishing super trawler, hoovering up the whole sea bed – with the intention that it will later see what species of rare fish it finds within its vast nets,” he said.

The court will rule in the coming months.

The cases are T-451/20 and T-452/20 Meta Platforms Ireland v Commission.

($1 = 0.9332 euros)

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 98,367.36 0.50%
ethereum
Ethereum (ETH) $ 3,429.48 2.62%
tether
Tether (USDT) $ 1.00 0.01%
solana
Solana (SOL) $ 258.32 0.55%
bnb
BNB (BNB) $ 659.36 2.54%
xrp
XRP (XRP) $ 1.48 5.89%
dogecoin
Dogecoin (DOGE) $ 0.44389 3.49%
usd-coin
USDC (USDC) $ 1.00 0.05%
cardano
Cardano (ADA) $ 1.08 1.11%
staked-ether
Lido Staked Ether (STETH) $ 3,428.64 2.63%
tron
TRON (TRX) $ 0.215457 4.13%
stellar
Stellar (XLM) $ 0.605807 37.32%
avalanche-2
Avalanche (AVAX) $ 42.51 2.53%
the-open-network
Toncoin (TON) $ 6.42 15.74%
shiba-inu
Shiba Inu (SHIB) $ 0.000027 0.16%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,057.13 2.49%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 98,141.29 0.67%
polkadot
Polkadot (DOT) $ 9.37 31.63%
chainlink
Chainlink (LINK) $ 18.10 8.61%
bitcoin-cash
Bitcoin Cash (BCH) $ 519.63 4.05%
sui
Sui (SUI) $ 3.52 0.10%
weth
WETH (WETH) $ 3,433.26 2.71%
pepe
Pepe (PEPE) $ 0.000021 2.36%
leo-token
LEO Token (LEO) $ 8.62 1.20%
near
NEAR Protocol (NEAR) $ 6.44 4.66%
litecoin
Litecoin (LTC) $ 102.05 0.97%
aptos
Aptos (APT) $ 13.24 5.63%
uniswap
Uniswap (UNI) $ 10.97 8.19%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,614.36 2.68%
hedera-hashgraph
Hedera (HBAR) $ 0.154514 2.63%
internet-computer
Internet Computer (ICP) $ 12.05 9.42%
crypto-com-chain
Cronos (CRO) $ 0.199858 5.20%
usds
USDS (USDS) $ 1.00 0.05%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.589934 12.73%
ethereum-classic
Ethereum Classic (ETC) $ 30.27 3.51%
render-token
Render (RENDER) $ 7.97 4.71%
bittensor
Bittensor (TAO) $ 541.80 3.79%
kaspa
Kaspa (KAS) $ 0.155562 0.51%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.47 12.46%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.10%
cosmos
Cosmos Hub (ATOM) $ 9.40 20.69%
bonk
Bonk (BONK) $ 0.000049 0.81%
arbitrum
Arbitrum (ARB) $ 0.889454 9.52%
filecoin
Filecoin (FIL) $ 6.06 22.97%
whitebit
WhiteBIT Coin (WBT) $ 24.77 0.40%
vechain
VeChain (VET) $ 0.044079 11.80%
dai
Dai (DAI) $ 1.00 0.12%
dogwifcoin
dogwifhat (WIF) $ 3.37 4.55%
mantra-dao
MANTRA (OM) $ 3.72 4.39%
celestia
Celestia (TIA) $ 7.74 31.50%