https://techcrunch.com/2023/04/27/meta-warns-on-data-suspension-risk/

Meta’s earning call yesterday was upbeat on better than expected revenue for the quarter. However buried in its disclosures to investors is a stark warning on looming regulatory risk it’s facing in Europe — where a decision is expected in a matter of weeks (by May 12) that could see the tech giant ordered to suspend its transatlantic data flows.

“We expect the Irish Data Protection Commission (IDPC) to issue a decision in May in its previously disclosed inquiry relating to transatlantic data transfers of Facebook EU/EEA user data, including a suspension order for such transfers and a fine,” Meta’s CFO wrote in its Q1 2023 report.