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Financial Daily Dose 3 1 2021 | Top Story: Walmart Poaches Goldman Bankers in Bid to Bolster Fintech Venture | Robins Kaplan LLP

To embed, copy and paste the code into your website or blog: Walmart’s recent move to hire away a “pair of senior Goldman Sachs bankers” to head up the retailer’s new fintech startup (a collaboration with Ribbit Capital) has tongues wagging about the company’s ambitions to shove its way into the banking business and “intertwine itself in the financial lives of its customers” - Bloomberg and WSJ Now that Adam Neumann’s squared away [shares purchased, lawsuit settled], SoftBank’s path forward to taking WeWork public is a whole lot clearer - NYTimes and Bloomberg and Law360

Facebook Photo-tagging Lawsuit Settled for $650m - Infosecurity Magazine

Facebook is to pay $650m to users in Illinois who accused the company of using their biometric data without first obtaining their consent.  Nearly 1.6 million users in the Prairie State joined a class-action lawsuit filed against Facebook in April 2015 in Cook County Circuit Court on behalf of plaintiff Carlo Licata.  The lawsuit alleged that the social media giant had violated an Illinois privacy law by using facial-recognition technology to scan photos uploaded by users and by digitally storing data regarding individuals faces without users permission. In Illinois, the Biometric Information Privacy Act allows consumers to sue companies that harvest data such as faces and fingerprints or identify users without first obtaining permission. 

Judge approves landmark $650m suit against Facebook over privacy claims

Judge approves landmark $650m suit against Facebook over privacy claims
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