Facebook Falls as Pressure Mounts on Zuckerberg Over Data Leak [Bloomberg Business News]
Meta Platforms, Inc. - Class A (FB)
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Source: Bloomberg Business News
Facebook Inc. shares fell in early trading Monday as American and European officials demanded answers to reports that a political advertising firm retained information on millions of Facebook users without their consent. Politicians on both sides of the Atlantic are calling on Chief Executive Officer Mark Zuckerberg to appear before lawmakers to explain how U.K.-based Cambridge Analytica, the advertising-data firm that helped Donald Trump win the U.S. presidency, was able to harvest the personal data. Facebook has already testified about how its platform was used by Russian propagandists ahead of the 2016 election, but the company never put Zuckerberg himself in the spotlight with government leaders. The pressure may also foreshadow tougher regulation for the social network. A top U.K. lawmaker on Monday backed sweeping new powers for the nation’s privacy watchdog. “The time has now come for us to look at giving more powers to the information commission in the
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