Shares/Stock Meta Share Price Dips after DOJ announcement of case settlement


Staff member
. On June 21, 2022 the Department of Justice (DOJ) announced that a settlement has been reached with Meta (Facebook) for violating the Fair Housing Act, which was filed by Govt of San Francisco against Meta on 2019.

The deal could have been profitable for Mark Zuckerberg, but Meta's shares ended the trading session down more than 4%.

Meta might pay fine of $115,000, and will have to developing a new system for housing ads.

This was the first case of "algorithmic discrimination" for the DOJ, according to which Meta's housing advertising system discriminated against users based on race, color, religion, gender, disability, family status and national origin.

Although Meta shares have been declining since February 2022, Wall Street analysts predicting a huge increase in the value of Meta shares have insisted on buying it. so its not so bad. According to the prediction, value ofMeta share will increase to 75% in 12 Months.