Facebook Anticipates FTC Fine Between $3 Billion and $5 Billion
Last week, social media network Facebook (NASDAQ: FB) reported its first quarter results for 2019. Included in that report was Facebooks expected fine from the Federal Trade Commission ranging between $3 billion and $5 billion due to the FTCs inquiry into the companys platform and user data practices. Facebook has been in negotiations with the FTC for months with the FTC claiming the social media platform violating a 2011 decree from the FTC to change its business practices. The FTC is also investigating the Cambridge Analytica data breach revealed early last year.
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