EU Data Watchdog Slaps €746M Penalty On Amazon - Amazon.com (NASDAQ:AMZN)

On July 16, the Luxembourg National Commission for Data Protection (the CNPD) held Amazon.com Inc's AMZN Amazon Europe Core S.à r.l. for not complying with the personal data processing under the EU General Data Protection Regulation.
It levied a penalty of €746 million and corresponding practice revisions.
Amazon has refuted the allegation and planned to contest it.
Amazon held $89.9 billion in cash and equivalents as of Jun. 30.
The Irish Data Protection Commission is likely to slap a fine of €30 million - €50 million to Facebook Inc's FB WhatsApp for alleged violation of its data protection rules.
Amazon announced worse-than-expected second-quarter financial results yesterday and issued guidance below estimates.
Many analysts also lowered the price targets on Amazon.
Price action: AMZN shares traded lower by 7.07% at $3,345.10 on the last check Friday.
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