Facebook Sued by Investors Over Voter-Profile Harvesting
Facebook Inc.’s failure to safeguard privacy was blamed in an investor lawsuit for a slump in its share price that followed the revelation user data was 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 in a class action 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.
Facebook fell as much as 5.2 percent to $175.41 Monday in New York, wiping out all of the year’s gains so far. It was the biggest intraday drop since Jan. 12. The stock dropped another 2.6 percent Tuesday to close at $168.15, after Bloomberg reported that the company is under investigation by the Federal Trade Commission, citing a person familiar with the matter.
Remember Q posting about "class action" lawsuit? Thar she blows. Beginning of the end
Even though Trump didn't harvest any data from Facebook and Obama did. See how they do?
Without permission, eh? Not what I heard. But go ahead and go with that, Facebook.
But this is still Obama’s FTC, right? I think they’re waiting to address the tech monopolies until after Trump’s people are approved.
First, apparently the WH screwed up last year with how they filed their nominees. (Accidental or sabotage by some uniparty staffers?) Now, Mitch is slow walking all approvals.
It is only when they think it was a firm from our side abusing the FB info that they care, whereas FB itself probably did far worse with more accounts in their fervid support of Hillary.
Yep, I think their downfall will be pretty dramatic over the next few days. They are scrambling to save their butts. LOVE IT!
Ya, the Facebook deal is mos def a BOOM.
Yup . . . We have our first confirmed BOOM . . .are you ready
Facebook Sued by Investors Over Voter-Profile Harvesting
Facebook Inc.’s failure to safeguard privacy was blamed in an investor lawsuit for a slump in its share price that followed the revelation user data was 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 in a class action 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.
Facebook fell as much as 5.2 percent to $175.41 Monday in New York, wiping out all of the year’s gains so far. It was the biggest intraday drop since Jan. 12. The stock dropped another 2.6 percent Tuesday to close at $168.15, after Bloomberg reported that the company is under investigation by the Federal Trade Commission, citing a person familiar with the matter.
I asked awhile back where were the investors in all this censoring and other garbage these publicly traded social medias are doing.
I was a novice investor back in the day but I do remember there is laws now to protect investors from CEO’s and other top company officials from doing these type of things to damage the brand and their investments.
It’s only going to get worse as investors in these companies figure out all the censoring and shadow banning of conservatives is damaging their brands. Especially when it is known twice as many Americans self-identify as conservative versus liberal/leftist.
It just goes to show how desperate these people are to change the narrative by risking damaging their brands and risking the future lawsuits. This is just probably the start as this could turn very ugly for these companies. Q keeps telling us, these people are very stupid.
CGato
And Zuckerberg just went on the LSM record stating that FB didn’t do enough to protect people’s information - apologizing for the failure - won’t that be admissible in Court?
In addition, this narrative blows stinky smoke-FB was willingly doing this for HRC, yet the news is all about this other company and Trump? I guess there are people dumb enough to believe that FB protects privacy rather than collecting the info for advertisers etc.