Market Chatter: Meta Platforms Faces Up to $40 Billion in Penalties Following Data Privacy Trial

05:17 AM EDT, 10/02/2026 (MT Newswires) -- Meta Platforms (META) is facing up to $40 billion in penalties after a US jury found that the social media giant misled consumers over data privacy on Facebook in relation with the Cambridge Analytica scandal, Reuters reported Thursday. The state of New Mexico is requesting a judge to levy $35 billion to $40 billion in penalties against the company after it was revealed that Cambridge Analytica got personal data from millions of Facebook users without their consent using a third-party applications as it worked on Donald Trump's 2016 presidential campaign, according to the report. Meta didn't immediately respond to MT Newswires' request for comment. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)