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“New chapter” for Facebook after $5 billion FTC fine, Zuckerberg says

ITN News Editor
By ITN News Editor July 25, 2019 13:37

“New chapter” for Facebook after $5 billion FTC fine, Zuckerberg says

Facebook will pay a record-breaking $5 billion fine to resolve a government probe into its privacy practices and will boost safeguards on user data, the U.S. Federal Trade Commission and the social media company.Facebook CEO Mark Zuckerberg told employees it was an important day for Facebook and the start of a “new chapter for the company.” After the stock market closed, Facebook disclosed as a part of its earnings report that the FTC told it last month that the commission had opened a separate antitrust investigation of the company. The FTC, which early in the day issued a statement and held a news conference about the privacy settlement, did not mention an antitrust probe.The FTC probe that resulted in the $5 billion settlement uncovered a wide range of privacy issues. It was triggered last year by allegations that Facebook violated a 2012 consent decree by inappropriately sharing information belonging to 87 million users with the now-defunct British political consulting firm Cambridge Analytica.

ITN News Editor
By ITN News Editor July 25, 2019 13:37