Facebook Opens Lower on Reports of FTC Probe

Published on: 20 Mar, 2018

The U.S. Federal Trade Commission is launching a probe against Facebook Inc. (NASDAQ: FB) to check if the social media giant violated terms of a consent decree regarding personal data back in 2011, according to Bloomberg, citing a source familiar with the matter.

Facebook shares opened 3 percent lower on Tuesday after plummeting over 8 percent on Monday.

The reported probe follows shortly after a conservation research firm, Cambridge Analytica allegedly received personal information of over 50 million Facebook users. The firm had worked with U.S. President Donald Trump during his campaign for his 2016 presidential election.

Under the 2011 settlement, Facebook agreed to receive consent from its users for specific privacy changes on their accounts as part of a settlement from federal charges that it exploited consumers and forced them to share more personal information

The FTC did not respond to comments regarding the matter, according to Bloomberg.

Ratings

Ratings
  • 661Views
  • 0Comments

Recommend to Friends

  • facebook
  • Twitter
  • google plus
  • pinterest
  • Digg
  • stumbleupon
  • Reddit
  • linkedin

Marco Zhou

Email: Marco@financialinsiders.com

@Newsletter

Sign Up for Weekly Updates

Opt-into our eNewsletter NOW! For the Latest Trending Financial News Topics in Cannabis, Tech, Biotechs, Precious Metals, Energy, Renewable Energy and much more!

Related Posts

30 Jun, 2017 718
10 Jul, 2017 665
28 Jul, 2017 1271
14 Aug, 2017 761

Comments

There is no comment on this article