Facebook Settles for $5 BillionsteemCreated with Sketch.

in #facebook • 5 years ago

Hi Friends,

Facebook set aside $2.0 Billion last quarter for a settlement with the Federal Trade Commission (“FTC”) in abuse of user data, in which it allowed multiple partners to gain access to data that customers did not agree to.

News has come out recently that the new amount is going to be $5.0 Billion, so the extra $3.0 Billion was a surprise and is certain to affect Facebook’s stock price. The previous high the FTC collected for a breach in an FTC order was only $22 million, so this amount is unprecedented.

Personally, I am curious to see where the money goes – does it go to the FTC/government or will Facebook users get any portion of that?

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What are your thoughts on all of this?

Thanks for coming by today,

Brian

#money #investing #palnet #busy
5 years ago in #facebook by
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     5 years ago 

    Where is my share???

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     5 years ago 

    'or will Facebook users get any portion of that?'

    I don't believe in fairy tales ...

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    [-]
     5 years ago 

    Interesting question!

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    [-]
     5 years ago (edited)

    Good news but I'm not sure the fee matters much to the trillionaire rockefeller and rothschild klepto-parasites

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    Steemit Long, Steemit Strong!

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     5 years ago 

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