The cost of doing business. $3 million is chump change for them.
https://finance.yahoo.com/news/vizio-holding-corp-reports-q4-210500071.html
this post was submitted on 02 Jan 2024
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Of course. EU latest laws changed the fines to a percentage of annual revenue to make them effective, but US is still collecting pennies with their settlement agreements.
But how could you define a percentage for every little thing that may come up? When is the percentage decided during the case, and who decides it?
Fines and other sanctions are decided by the European Commission under Digital Markets Act (DMA) and Digital Services Act (DSA).
So really it's just the same thing with an extra step. They decide how much money it should cost the company, look of the companies profits, and give a percentage that matches the value they wanted.
Even at the lowest 1% fine of annual revenue would have been 17 million. So no, 3 million =/ 17 million. At maximum 6% it would have been 102 million.
There's a max of only 6%
That's a fairly hefty fine if their profit is 136 mil. Not sure if I'm reading that correctly but it amounts to multiple percentage points of profit for the entire company.
1.71B yearly in revenue though.
That's a quarterly report.
Ah yea that changes things then. Not such a big fine then.
How is it alleged if they’re paying out.
Anytime there's a settlement it's included that "we dont admit we did this, but here's some money for it".
For a company to actually have to admit guilt, it has to go to trial.