7/12, 9:56 PM (Source: TeleTrader)
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Facebook to pay $5B for privacy breach – report

Three persons in the five-member Federal Trade Commission voted for the proposed settlement with Facebook Inc., the Wall Street Journal reported on Friday, quoting sources with knowledge of the matter. The two officials from the Democratic Party were said to be against the deal ending the process which was launched over privacy breaches, while the Republicans pushed it through, an insider revealed.

The social media operator led by chairman and chief executive Mark Zuckerberg jumped 1.87% to $205 per share at 3:56 pm ET, just before closing. It is nearing the $218.62 record high, reached on July 25 of last year. The report added the case was transferred to the Department of Justice for finalizing with no clear estimate how long it would be. The quoted sum matches what it said on April 24 that it may pay.

Breaking the News / IT