Facebook fined $70M for flouting Giphy order made by UK watchdog

Facebook fined $70M for flouting Giphy order made by UK watchdog

2 years ago
Anonymous $BH0TGXkyPe

https://techcrunch.com/2021/10/20/facebook-fined-70m-for-flouting-giphy-order-made-by-uk-watchdog/

Facebook — or whatever name the tech giant picks for a reportedly looming rebrand of its data-mining empire as it seeks to teleport its business into the metaverse to escape the unending cavalcade of toxic publicity its execs generate — has a new ‘bad behavior’ badge to sport: It’s just been fined nearly $70 million (£50.5M) by a UK watchdog for deliberately withholding information related to ongoing antitrust oversight of its acquisition of Giphy.

It’s the first time the UK’s competition watchdog has found a company to have breached this type of order — by “consciously refusing to report all the required information”, as it puts it.