Where exactly is the coercion here? The choices in order to maintain a Facebook account you either pay a fee or let them use your data to advertise to you. The other option is to completely close your Facebook account and delete all of your data on their servers. An argument can be made that they should make it easier to remove all of your data and several people that I know have made that argument. But other than that I don’t see anything they are doing as being illegal, in the EU or otherwise. Sure the way they presented is a pretty scummy but what do you want? It’s Facebook and it’s run by greedy corporate dick heads. If you don’t like it delete your Facebook profile.
I also find it hilarious that you don’t think they have lawyers who specialize in European Union law that don’t know exactly what the fuck they’re doing. This is a multi-billion dollar company, they can afford the best goddamn lawyers.