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Wed Apr 24, 2019, 09:10 PM

Facebook expects $3B-$5B fine over Cambridge Analytica

Facebook believes that a Federal Trade Commission (FTC) probe into the company's handling of the Cambridge Analytica scandal could end up costing it between $3 billion and $5 billion.

The social network disclosed to investors in its quarterly earnings report on Wednesday that it had already set aside $3 billion as a legal expense. Facebook said that it had not yet reached a settlement with the agency, and it's unclear when the case would be resolved.

An FTC spokeswoman declined The Hill's request for comment, but any multibillion-dollar fine over privacy violations would be a record for the U.S.

It might not do lasting damage to Facebook, however, which revealed on Wednesday that it had made more than $15 billion in revenue through the first three months of 2019.

https://thehill.com/policy/technology/440514-facebook-says-it-expects-3b-5b-fine-over-cambridge-analytica-scandal

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Reply Facebook expects $3B-$5B fine over Cambridge Analytica (Original post)
Yo_Mama_Been_Loggin Apr 2019 OP
BigmanPigman Apr 2019 #1

Response to Yo_Mama_Been_Loggin (Original post)

Wed Apr 24, 2019, 09:18 PM

1. Fuckerberg and Fakebook owe the country a lot more than that.

What is the price for aiding treason? What is the price for giving us tRump when we should have had Hillary? I say dissolve the whole fucking monopoly. Warren has some pretty good ideas and if she isn't elected POTUS I hope she is on the cabinet.

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