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Browse: Home / 2019 / July / 24 / Facebook to Pay $100 Million for Misleading Investors About the Risks It Faced From Misuse of User Data

Facebook to Pay $100 Million for Misleading Investors About the Risks It Faced From Misuse of User Data

By Securities Docket on July 24, 2019, 9:03 am

Facebook has agreed to pay $100 million to settle the charges.

According to the SEC’s complaint, in 2014 and 2015, the now-defunct advertising and data analytics company, Cambridge Analytica, paid an academic researcher, through a company he controlled, to collect and transfer data from Facebook to create personality scores for approximately 30 million Americans.  In addition to the personality scores, the researcher, in violation of Facebook’s policies, also transferred to Cambridge Analytica the underlying Facebook user data, including names, genders, locations, birthdays, and “page likes.”  Cambridge Analytica used this information in connection with its political advertising activities.

via SEC.gov | Facebook to Pay $100 Million for Misleading Investors About the Risks It Faced From Misuse of User Data.

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Posted in SEC, Top | Tagged Data Use, Facebook

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