Saturday September 19, 2020

Facebook will see $5 billion fine as a small price to pay

Shareholders at Facebook will have heaved a sigh of relief as the social media giant escaped with a fine but no further punishment or restrictions, for its breach of privacy

Emmet Ryan

Technology Correspondent

28th July, 2019

The $5 billion fine issued by the US Federal Trade Commission (FTC) to Facebook is a big number, but it was not arrived at without controversy.

The fine was in relation to a broad investigation into Facebook’s issues around privacy control including those in relation to the Cambridge Analytica scandal, which came to light last year.

The settlement was applauded by investors in Facebook’s earnings call on Wednesday and shares rose by more than...

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