Structural Remedies In Spotlight In Facebook Privacy Probe
By Ben Kochman (May 17, 2019, 10:17 PM EDT) -- When Facebook said in April that it expects to pay a multibillion-dollar fine to resolve the Federal Trade Commission's pending probe of its privacy practices, its investors did not break a sweat.
The social networking giant's stock actually jumped 5% in after-hours trading after the company announced that it has set aside more than $3 billion to deal with the looming inquiry, which stems from charges that it violated a 2011 privacy consent decree.
Facebook announced $15 billion in quarterly revenue over the same period when it reported the expected fine, making clear that what would be by far the FTC's largest penalty for a...
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