News and Events for Attorneys and Executives

Facebook Fine Could Total Billions if FTC Talks Lead to a Deal

The New York Times is reporting that Facebook and the Federal Trade Commission are discussing a settlement over privacy violations that could amount to a record, multibillion-dollar fine, according to three people with knowledge of the talks.

Sources told the Times that the company and the FTC’s consumer protection and enforcement staff have been in negotiations over a financial penalty for claims that Facebook violated a 2011 privacy consent decree with the agency, according to reporter Cecilia Kang.

“The F.T.C. began its investigation into Facebook’s mishandling of data after The New York Times reported in March 2018 that the information of 87 million users had been harvested by a British political consulting firm, Cambridge Analytica, without their permission,” writes Kang.

Read the NY Times article.

 

 

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