The US authorities says ditching its controversial $5 billion settlement with Fb may outcome …


facebook ceo mark zuckerberg

  • The US government is warning that attempting to change the $5 billion FTC settlement with Facebook could result in a far worse deal.
  • Critics have savaged the settlement, arguing it is ineffectual, and non-profit EPIC has sought to get involved in the legal process.
  • US attorneys counter that there’s no guarantee that the ultimate outcome of this could produce better results than the FTC managed.
  • Visit Business Insider’s homepage for more stories.

The US government has a warning for critics of the Federal Trade Commission’s $5 billion settlement with Facebook over privacy issues: Don’t be so sure a better outcome is possible.

The FTC recently reached a multi-billion dollar settlement with the Californian social media giant over alleged violations of a 2011 consent order concerning its handling of users’ data. It’s a record-breaking fine — but critics have argued that it is ultimately ineffectual, amounting to only a fraction of Facebook’s annual profits, and it’s not accompanied by any more fundamental structural changes to the company’s business model.See the rest of the story at Business Insider

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