The tech giant faced lawsuit alleging privacy violations related to data leaked to a consultancy working on Donald Trump's 2016 campaign, and a new report suggested it shared more data with partners than it has acknowledged. Facebook shares, already sagging under the weight of the social network's troubles, ended the trading day down 7.25 percent to $133.24 and slipped even lower in after-market trades. The suit filed by the attorney general for the U.S. capital Washington is likely the first by an official U.S. body that could impose consequences on the world's leading social network for data misuse. "Facebook failed to protect the privacy of its users and deceived them about who had access to their data and how it was used," said Attorney General Karl Racine in a statement. "Facebook put users at risk of manipulation by allowing companies like Cambridge Analytica and other third-party applications to collect personal data without users' permission." The suit filed in Superior Court … [Read more...] about Lawsuit adds to Facebook woes on data protection
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Cambridge Analytica to close after Facebook data scandal
A laptop showing the Facebook logo is held alongside a Cambridge Analytica sign at the entrance to the building housing the offices of Cambridge Analytica, in central London. (Daniel LEAL-OLIVAS/AFP) LONDON: Cambridge Analytica, the British marketing analytics firm, announced on Wednesday (May 2) that it was closing and would file for insolvency in Britain and the United States after failing to recover from the Facebook data scandal. The decision follows weeks of intense pressure on the company, hired by Donald Trump's presidential campaign, after allegations emerged it may have hijacked up to 87 million Facebook users' data. It claimed it has been "vilified" by the "numerous unfounded accusations" which torpedoed its business and left the firm with "no realistic alternative" but to go into administration. "Despite Cambridge Analytica's unwavering confidence that its employees have acted ethically and lawfully ... the siege of media coverage has driven away virtually all of the … [Read more...] about Cambridge Analytica to close after Facebook data scandal