For alleged mishandling of private user data, the United States government is slated to fine Facebook a sum of $3-5 Billion.
Facebook, has said it was prepared to pay the expected fine has it has set aside $3 billion in its reserve to pay for such fines after the US Federal Trade Commission opened an investigation last year into a 2011 privacy settlement with the company.
“We estimate that the range of loss in this matter is $3.0 billion to $5.0 billion,” the company said.
“The matter remains unresolved, and there can be no assurance as to the timing or the terms of any final outcome.” The statement added.
Subscribe To Daily Email To Get an Ebook on Online Business Ideas
Get a Copy of my ebook on Online Business ideas that Assure You of Financial Freedom.
We won't disturb you with spams or temper with your privacy
Comment here