Meta Platforms Inc.’s (FB) social networking site Facebook faces a $3.2 billion (2.3 billion pound) class action suit in the United Kingdom. According to the suit, the company allegedly used its market position to exploit the personal data of 44 million users. Shares closed down 2% at $326.48 on January 13. The case represents Britain’s people who used Facebook between 2015 and 2019. The lawyer in the suit is Liza Lovdahl Gormsen, a senior adviser to Britain's Financial Conduct Authority (FCA) watchdog and a competition law academic. The lawsuit alleges that Facebook made billions of pounds from compelling its users to give valuable personal data to use the service.
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