The Hidden Risks Behind Facebook's Login Tools: Part 1
Law360, New York (January 15, 2013, 11:38 AM EST) -- Facebook has faced many challenges about how personal data of its members is collected and used by this Goliath social media company. Recently, a federal judge reportedly indicated tentative approval of Facebook's offer to settle a class action claim arising from its use of individuals' names and likenesses in connection with Sponsored Stories, a service it rolled out in January of 2012. While the details of this settlement are not yet fully known, it appears that Facebook will pay $20 million to affected consumers plus additional monies in attorneys' fees. While $20 million sounds like an impressive number, reports estimate that Facebook made $1 million a day from the Sponsored Stories service over the last year. From that perspective, Facebook made the right business decision when it launched the Sponsored Stories service even though it undoubtedly knew that it was bound to face legal challenges....
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