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SEC Investigating if Facebook Gave Investors Enough Warning About Data Issue, WSJ Says

posted by mrpg on Friday July 13 2018, @11:21AM   
from the who-knew-what-when? dept.

martyb writes:

SEC asking if Facebook properly warned investors of data issue -- WSJ

The Securities and Exchange Commission is looking into whether Facebook gave investors enough warming about the possible misuse and improper gathering of users' data, The Wall Street Journal reported Thursday (paywalled).

[...] The SEC has requested information from Facebook in an effort to learn how much the social networking company knew about Cambridge Analytica's data use, according to the Journal. In addition, the SEC reportedly wants to learn how Facebook analyzed its risk as developers shared data with others against Facebook's policies.

[...] The SEC is also looking into whether Facebook should have told shareholders about Cambridge Analytica's policy violation when it found out in 2015.

Also at MarketWatch and NYT.

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Original Submission

• Re:Shareholders? (Score: 2) by NotSanguine on Friday July 13 2018, @01:14PM

  by NotSanguine (285) <NotSanguineNO@SPAMSoylentNews.Org> on Friday July 13 2018, @01:14PM (#706599) Homepage Journal

  The SEC is also looking into whether Facebook should have told shareholders about Cambridge Analytica's policy violation when it found out in 2015.

  Shareholders? How about users, and all non-users, whose data was gathered and shared?

  If you own a supermarket, do you tell the canned goods about how you're using the inventory? "Users" and others are just product. They have no say. They are only important as commodities to be aggregated and sold. Why would you think Facebook would be any different?

  --
  No, no, you're not thinking; you're just being logical. --Niels Bohr

  Parent

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