• Facebook is being sued by its shareholders over lax data security

    6 monthes ago - By Fast Company

    To say Facebook is having a rough few days is becoming a bigger and bigger understatement. After revelations this weekend that a Trump campaign data analytics firm had accessed the Facebook data of some 50 million unwitting users, Facebook's stock took a dive on Monday, dropping 5.2% to $175.41. The stock shed another 2.6% of...
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  • Facebook Sued by Investors Over Cambridge Analytica User Data Scandal

    6 monthes ago - By Fortune

    Facebook Inc.'s failure to safeguard privacy was blamed in an investor lawsuit for a slump in its share price that followed the revelation users' data were harvested without permission by a research firm connected to U.S. President Donald Trump.
    The world's largest social media network was sued in San Francisco federal court on Tuesday by shareholders who said they suffered losses after the disclosure that Cambridge Analytica, a U.K.-based firm that aided Trump, improperly obtained profile information on 50 million users.
    The proposed class action would represent people who bought shares...
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  • Facebook data flap infects social media stocks

    6 monthes ago - By Reuters

    Facebook shares have lost $55 billion in market value over the past two days and that pain is spreading to rivals like Twitter as investors fear government crackdowns are coming, which could curtail the data collection that has fueled the sectors' revenue growth.
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  • A former Facebook employee who was responsible for monitoring data breaches has come forward about the way Facebook handles user data, calling its practices 'utterly shocking and horrifying'

    A former Facebook employee who was responsible for monitoring data breaches has come forward about the way Facebook handles user data, calling its practices 'utterly shocking and horrifying'

    6 monthes ago - By Business Insider

    Facebook is dealing with an investigation and a lot of consumer outrage after Christopher Wylie - the founder of data analytics company Cambridge Analytica - told the Guardian that his company used data from 50 million Facebook profiles to target voters.
    Wylie said Facebook had sent Cambridge Analytica a letter back in 2015 asking it to delete the data, but that it never followed up; many are calling this irresponsible on Facebook's part.
    Now, Sandy Parakilas, an ex-Facebook employee who worked on the very team that monitored data breaches back when Facebook's policy let outside apps...
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  • Facebook's Zuckerberg to testify before British parliamentary panel

    6 monthes ago - By Review Journal

    A British parliamentary committee on Tuesday summoned Facebook CEO Mark Zuckerberg to answer questions as authorities stepped up efforts to determine if the personal data of social-media users has been used improperly to influence elections.
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  • Breaking up with Facebook? It's harder than it looks

    6 monthes ago - By Chron

    NEW YORK - Facebook's latest privacy scandal, involving Trump campaign consultants who allegedly stole data on tens of millions of users in order to influence elections, has some people reconsidering their relationship status with the social network.
    There's just one problem: There isn't much of anywhere else to go.
    Facebook has weathered many such blow-ups before and is used to apologizing and moving on. But the stakes are bigger this time.
    Regulatory authorities are starting to focus on the data misappropriation, triggering a 9 percent decline in Facebook's normally high-flying stock...
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  • Can Facebook Move Past Latest Breach Of User Data?

    6 monthes ago - By NPR

    Facebook is under siege from politicians, investors and users for allowing the private information of some 50 million users to become fodder for a data-mining company working for the Trump campaign. The attacks are harsh, but Facebook has moved past earlier controversies without harming its popularity or market value.
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