12:30 PM EDT, 03/13/2024 (MT Newswires) -- Meta Platforms ( META ) shares dipped by nearly 1% in recent Wednesday trading after a US appeals court ruled that the company could not stop the US Federal Trade Commission from reopening an investigation into Facebook privacy practices despite Meta having paid a $5 billion fine.

The US Court of Appeals for the D.C. Circuit, which issued the ruling Tuesday, said the FTC's privacy concerns "implicate important public interests," Reuters reported.

Meta issued a statement saying the court's order "does not address the substance of the FTC's allegations, which are without merit," according to the report.

Meta did not immediately reply to a request for comment from MT Newswires. The FTC said it had no comment.

Price: 496.64, Change: -3.11, Percent Change: -0.62