5 billion fine to solve authorities probe into its personal privacy practices and can enhance safeguards on consumer data, the U.S. Federal Trade Commission and the interpersonal to mass media company said on Wednesday. After the stock market closed, Facebook disclosed as a part of its earnings report that the FTC told it last month that the commission had opened another antitrust investigation of the business. The FTC, your day issued a declaration and held a press meeting about the personal privacy settlement which early in did not mention an antitrust probe. 5 billion negotiations uncovered a wide range of privacy issues.
It was activated this past year by allegations that Facebook violated a 2012 consent decree by inappropriately posting information belonging to 87 million users with the now-defunct British political consulting firm Cambridge Analytica. The consultancy’s clients included President Donald Trump’s 2016 election advertising campaign. The FTC voted 3-2 to look at the settlement, that your three Republican commissioners called the negotiation “a complete home run” that exceeded any possible court award. Both Democratic commissioners said it did not go enough or require a huge enough fine far. The settlement requires court approval. Republican FTC Chairman Joe Simons stressed the FTC’s limited power and wish to avoid an extended court fight.
5 billion fine and said the settlement would provide “a thorough new construction for protecting people’s privacy.” Its stocks shut about 1% higher. 100 million to settle allegations that it misled traders about the seriousness of its misuse … Read more