Facebook Stock Plunges As FTC Investigate Privacy Policies

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The Federal Trade Commission is investigating Facebook’s privacy practices following a week of privacy scandals including allegations a Trump-affiliated political consulting firm got data inappropriately from millions of Facebook users. Facebook’s stock, which already took a big hit last week, plunged as a result. Acting director of the FTC’s Bureau of Consumer Protection, Tom Pahl, said the probe would include whether the company engaged in “unfair acts” that cause “substantial injury” to consumers.  Facebook’s privacy practices have come under fire after revelations that Cambridge Analytica got data on Facebook users. Facebook said in a statement on Monday that the company remains “strongly committed” to protecting people’s information and that it welcomes the opportunity to answer the FTC’s questions. News outlets reported on the FTC investigation last week, but the FTC hadn’t confirmed it until Monday. 

Facebook stock sinks on FTC investigation and lawsuits

Via www.cbsnews.com
 

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