Microsoft flags over $400 million charge for Irish privacy violation fine on LinkedIn
The Irish Data Protection Commission (IDPC) launched an investigation into the professional networking platform in 2018 over whether its targeted advertising practices violated the European data protection law.
The regulator’s order is not public and Microsoft said that LinkedIn was informed about the preliminary decision in April. Microsoft added it would dispute the proposed fine after receiving a final order.
“After review and analysis, the company would increase its existing reserve for the matter and, based on current exchange rates take a charge of approximately $425 million in the fourth quarter of fiscal year 2023,” Microsoft said in a statement.
IDPC did not immediately respond to a Reuters request for comment.
Shares of Microsoft were trading slightly lower on Thursday amid broader market weakness.
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