Facebook directors either “affirmatively went along with” improper behaviour or ignored it, the judge said in an oral ruling.The privacy suits by investors were tied to a recordfine officials of Facebook — now a unit of Meta Platforms Inc. — paid the US government to resolve a privacy probe tied to a 2018 revelation about its business with Cambridge Analytica, a consulting firm hired by Trump.
The app not only collected its users’ data, but also information on their friends, affecting millions of consumers.An internal review by Facebook later determined at least 50 million user accounts were improperly harvested by Cambridge, according to investors’ court filings.to settle investor claims in California tied to the Cambridge scandal.
They noted the US Federal Trade Commission found alleged violations going back to 2012 — the same year that Facebook finalised an earlier agreement over privacy lapses. “This complete and utter failure of leadership and governance left Facebook subject to public scrutiny, billions of dollars in lost market value, millions of dollars in foreseeable fines and costs, and inquiries by governments worldwide,” investors said in court filings.
Law Law Latest News, Law Law Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: dailymaverick - 🏆 3. / 84 Read more »