sec whistleblower attorneys
July 24, 2019
Facebook Inc.
Financial Fraud
SANCTION AMOUNT: $100,000,000
Defendants: Facebook Inc.
Defendant agreed to settle charges that it misled investors regarding the risk of misuse of its user data. The Commission alleged that, despite a discovered misuse via Cambridge Analytica, the company continued to tell investors that “users’ data may be improperly accessed, used or disclosed.” (emphasis added). And subsequent disclosure of the Cambridge Analytica incident allegedly caused a drop in the stock price.
- Key Docs
- Official SEC press release
