Due to a slew of privacy violations, Facebook finally reached a settlement agreement with the Federal Trade Commission (FTC) that will see the social networking giant pay out a hefty fine of $5 billion. Hardly a surprise, Facebook during its most recent earnings report this past April warned investors it would likely have to pay a fine in the $3 billion to $5 billion.
According to The Wall Street Journal, the FTC voted to approve the settlement by a vote of 3-2. The report adds that the matter has now “been moved to the Justice Department’s civil division” for further review and approval.
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Facebook agrees to pay FTC $5 billion fine for various privacy violations originally appeared on BGR.com on Fri, 12 Jul 2019 at 16:44:14 EDT. Please see our terms for use of feeds.
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