Facebook and several key executives, including CEO Mark Zuckerberg, are facing federal class action lawsuits alleging the social network made false and misleading statements related to the decline of monthly active users prior to the second quarter earnings report. Get the Full Story Complete the...
Facebook‘s stock price plunged Wednesday (July 25) after the social media operator’s Q2 financial report showed missed targets on revenue and users, and the ongoing costs of the privacy and data scandals to hit the company gained clarity. Facebook’s stock price declined by as much...
Facebook’s plan to open a subsidiary in China has fallen apart, with the country withdrawing its approval for the project. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required....
Facebook has hired Shahriar Rabii to be a vice president and its head of silicon, sending a message that it plans to build its own semiconductors. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS...
As Facebook continues its forays into commerce, the company has filed a patent for a messaging bot that enables users to pay for items. The patent, which is called “Processing Payment Transactions Using Artificial Intelligence Messaging Services,” details a bot that can understand and reply...
The Securities and Exchange Commission is once again investigating Facebook, this time looking into whether the social media giant adequately warned investors that user data might have been illegally obtained. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
A new data analytics firm has emerged from the ashes of the former Cambridge Analytica (CA) consulting business, which filed for insolvency after the massive data scandal in which it gained unauthorized access of more than 87 million Facebook members. Get the Full Story Complete the...
Facebook was hit with a $660,000 fine, the maximum allowed, by the British Information Commissioner’s Office over its data scandal with now-defunct political consulting firm Cambridge Analytica. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all...
Following news that the U.S. government probe into the Facebook data breach connected with Cambridge Analytica has widened, shares of the company dropped 2 percent in early trading on Tuesday (July 3). The fall took approximately $12 billion off Facebook’s market valuation, Reuters reported. Get...