Facebook Expected to Settle SEC Claims of Inadequate Disclosures Over Privacy Practices

The Securities and Exchange Commission is expected to announce a settlement with Facebook Inc. on Wednesday related to claims it inadequately disclosed risks involving its privacy practices, a person familiar with the matter said.

The settlement, which is expected to include a fine larger than $100 million, focuses on allegations the social-media company insufficiently warned investors that developers and other third parties may have obtained users’ data without their permission or in violation of Facebook policies, the person...

Only $100 million? Make it $1 billion. We need them in our treasury.

Facebook is place where girl meet boy.thats it

$100M? They spend 4X that much monthly on suppressing, demonetizing & throttling conservatives. It’s spare change in their pockets. You really should be investigating the algorithms they are developing to throw the election to Democrats next year.

So the equivalent of a parking ticket. That'll teach'em!

These settlements are pathetic. Never any admissions of wrongdoing or guilt, allowed to pay a TINY fine to continue to wreak havoc as they please while printing money as a result of their criminal misdeeds. It's now a just a line item on their expense reports baked into the biz.

Perhaps, but that sounds high. What’s the precedent?

It's about time.

Does anyone really even have a FB account anymore? DeleteFacebook

That's cool but can we get the breach reversed or nah 🤷‍♀️

Zuck should have to step down like Elon had to.

Meanwhile Facebook has how many billion in the bank? Gotta put this fine in perspective...

More? I guess they deserved it

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