FTC confirms probe of Facebook in scandal, stock plunges
Published on March 26, 2018 at 06:27PM by By Benny Evangelista
The Federal Trade Commission confirmed Monday that it has opened an investigation into Facebook’s privacy practices in light of news reports of the Cambridge Analytica scandal. Tom Pahl, the FTC’s acting director of consumer protection, said in a statement that the agency is probing whether the Menlo Park social networking company has engaged in “unfair acts that cause substantial injury to consumers.” Pahl noted that in 2011, Facebook agreed to a settlement of an FTC complaint about its use of users’ information; the commission said the company deceived consumers by failing to keep promises to protect the privacy rights of its then-800 million members. Facebook now has more than 2 billion members.
Published on March 26, 2018 at 06:27PM by By Benny Evangelista
The Federal Trade Commission confirmed Monday that it has opened an investigation into Facebook’s privacy practices in light of news reports of the Cambridge Analytica scandal. Tom Pahl, the FTC’s acting director of consumer protection, said in a statement that the agency is probing whether the Menlo Park social networking company has engaged in “unfair acts that cause substantial injury to consumers.” Pahl noted that in 2011, Facebook agreed to a settlement of an FTC complaint about its use of users’ information; the commission said the company deceived consumers by failing to keep promises to protect the privacy rights of its then-800 million members. Facebook now has more than 2 billion members.
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