whether Facebook should have been open about Cambridge

Jul

13

2018

‘Watchdog USA investigates ‘
The US Watchdog Securities and Exchange Commission is allegedly investigating whether Facebook should have previously informed shareholders about the misuse of user data by Cambridge Analytica. The company has been aware of this for several years.

According to sources from The Wall Street Journal , the SEC wants to know how much Facebook knew before the flow of publications this spring started on the data processing company Cambridge Analytica. Thanks to a quiz and unauthorized access to api’s, the data company had data from tens of millions of Facebook users.

The watchdog investigates whether it is information that Facebook knew could influence the stock price. The share price of Facebook dropped after publications about the scandal, but is now back to the level of before. Facebook and SEC did not respond to the article. SEC investigated Facebook earlier because of the IPO but then decided not to impose sanctions .

The Cambridge Analytica scandal came out in March. Through the personality quiz of a scientist, the company received data from 87 million Facebook users and used that data for targeted advertisements in the presidential elections in the United States.

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