Facebook fined $5 billion by FTC
2 months, 1 week ago by kyle | 7 facts | 1 comments | 10 votes

  • The Federal Trade Commission announced a settlement with Facebook over the company’s 2018 Cambridge Analytica scandal. - www.cnbc.com
  • Facebook was anticipating anywhere from a $3 billion to $5 billion fine - bgr.com
  • FTC voted along party lines, with three Republican commissioners voting in favor of the settlement and two Democratic commissioners voting against it. - www.theverge.com
  • The FTC began probing Facebook in March 2018 following reports Cambridge Analytica had improperly accessed the data of 87 million Facebook users. - www.cnbc.com
  • The Federal Trade Commission voted this week to approve a roughly $5 billion settlement with Facebook Inc. - www.wsj.com
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kyle - 2 months, 1 week ago
Well this isn't exactly a surprise. We've known for months that the fine could be upwards of $5 billion. Looks like Facebook stock is up about 2% today, which to me indicates that investors had already pricing in a much higher fine.

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