Photo: Jason Doiy/ALMFacebook estimates an FTC fine of $3 billion to $5 billion over its data privacy practices. It would be the largest-ever FTC fine on a U.S. tech company.
April 24, 2019 at 05:07 PM
1 minute read
The original version of this story was published on Corporate Counsel
Facebook Inc. has set aside $3 billion for a settlement with the Federal Trade Commission over its consumer data privacy practices.
Menlo Park, California-based Facebook estimated a “probable loss” of $3 billion to $5 billion due to an ongoing FTC inquiry into its data protection and privacy practices in its first-quarter results 8-K filing Wednesday.
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