Federal Regulators Fine Facebook $5 Billion for Massive Privacy Breaches

HeadlineJul 25, 2019

Federal regulators have ordered Facebook to pay a $5 billion fine for massive breaches in privacy that saw tens of millions of users’ data used without their consent. It was the largest fine for a privacy breach in U.S. history, but critics say the $5 billion penalty was far too lenient for a company valued at over $580 billion. After the settlement was announced, shares of Facebook rose on the NASDAQ stock exchange by more than a percentage point, and the company reported nearly $17 billion in revenue for the three months ending in June.

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