Meta Platforms, Inc. (META) Risk Factors

Recent key developments

Concrete developments — dated events, named agreements and instruments, legal proceedings — that Meta Platforms, Inc. surfaced in its latest filing.

• Q1 2026 Family daily active people declined quarter-over-quarter due to internet disruptions in Iran and a restriction on WhatsApp in RussiaQ1 2026
• European Commission opened formal DMA proceedings in March 2024 and issued preliminary findings in July 2024March 2024
• European Commission final decision in April 2025 that 'subscription for no ads' does not comply, which Meta is appealingApril 2025
• In November 2024, Meta began offering less personalized ads option in EU/EEA/SwitzerlandNovember 2024
• Apple 2021 iOS changes reduced ability to target and measure advertising2021
• In September 2026, signed the Accord on Super Intelligence with the U.S. government and other developersSeptember 2026
• In January 2025, announced changes to content policies and enforcement to allow more free expressionJanuary 2025
• In September 2021, became subject to media, legislative, and regulatory scrutiny from a former employee's allegations and internal documentsSeptember 2021
• Announced agreement with 52 attorneys general to resolve litigation related to teen mental health and social media, providing payments up to $18.59 billion over 10 yearsAugust 2026
• Completed divestiture of Manus in August 2026 following China's NDRC orderAugust 2026
• Completed divestiture of Giphy in 2023 following UK CMA's order2023
• FTC sought to enjoin the proposed acquisition of Within Unlimited; acquisition completed after prevailing in federal court
• In 2016 and 2018, the IRS issued formal assessments relating to transfer pricing; litigating these assessments2016
• The One Big Beautiful Bill Act (OBBBA) enacted in July 2025 significantly impacted tax obligations and effective tax rateJuly 2025
• Board approved recapitalization effective January 2027 establishing non-voting Class C common stock and declared a dividend of one share for each outstanding Class A and Class B shareJanuary 2027
• In May 2023, the IDPC issued a €1.2 billion fine against Meta Platforms Ireland for GDPR non-compliance regarding EEA Facebook user data transfers; under appeal and subject to stayMay 2023
• CJEU invalidated the Privacy Shield in 2020 and upheld SCCs in 20202020
• In May 2023, the IDPC issued a €1.2 billion fine against Meta Platforms IrelandMay 2023
• In July 2019, entered into a settlement and modified consent order with the FTC, effective April 2020July 2019
• FTC initiated an administrative proceeding alleging deficient compliance and violations of COPPA and Section 5
• In July 2024, entered into a settlement to resolve lawsuit by Texas regarding 'tag suggestions' and facial recognition technologyJuly 2024
• In November 2024, the European Commission issued a fine for tying Facebook Marketplace to FacebookNovember 2024
• Since 2020, subject to FTC lawsuit alleging antitrust violations, seeking divestiture or reconstruction of Instagram and WhatsApp2020
• Since 2019, subject to antitrust inquiries and investigations by the FTC and DOJ2019
• In March 2018, disclosed misuse of certain data by a developer that shared data with third parties; became subject to FTC, state AG, and government inquiriesMarch 2018
• Announced in 2021 a shift in business strategy to focus on the metaverse2021
• Reality Labs reduced 2025 overall operating profit by approximately $19.19 billion; expected full-year 2026 operating losses of approximately $18 billion to $19 billion2025
• $454.52 billion of non-cancelable contractual commitments as of September 30, 2026September 30, 2026
• In the fourth quarter of 2025, updated methodology for violating accounts estimation; estimated less than 5% of worldwide DAP consisted solely of violating accountsQ4 2025
• Australian legislation banning social media for users under 16
• Province of British Columbia considered a bill to permit recovery of public health-related costs potentially associated with social media services
• Legislation in Canada led to ending availability of news content for Canadian users on Facebook and Instagram
• Australia enacted a tax on revenue to incentivize payments to news publishers
• Shares sold in IPO in May 2012 at $38.00 per shareMay 2012
• Announced Recapitalization and Dividend, expected to reflect a two-for-one stock split; plan to list Class C common stock on Nasdaq