Facebook To Pay $100M To Settle SEC Claims Over Data Breach

Mealey's (July 25, 2019, 1:36 PM EDT) -- SAN FRANCISCO — Facebook Inc. will pay $100 million to settle claims brought by the Securities and Exchange Commission alleging that the social media network violated federal securities laws by issuing a series of misrepresentations to investors concealing misuse of its user data by data analytics company Cambridge Analytica, according to court documents filed July 24 in California federal court (Securities and Exchange Commission v. Facebook Inc., No. 19-4241, N.D. Calif.)....