: Meta Platforms asks federal court to halt further FTC restrictions: WSJ

Meta Platforms Inc. META has asked a U.S. district court to halt efforts by the Federal Trade Commission to apply further restrictions on the social-media platform, after the agency alleged that the company had run afoul of a $5 billion 2019 privacy settlement, according to the Wall Street Journal. Among other efforts, the FTC is trying to prohibit Meta from profiting off of younger users’ data, and has accused the company of misleading users about its privacy safeguards for children, the Journal said. Meta has until Aug. 3 to respond to the FTC, the Journal said. Facebook has pushed back on allegations that it breached the settlement, and said the agency doesn’t have the authority to change that settlement’s terms, the Journal said. Shares of Meta were up 0.5%.

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