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UPDATE 1-Democratic senators urge FTC to act on Facebook 'friendly fraud' practices [Reuters]

Meta Platforms, Inc. - Class A (FB) 
Last meta platforms, inc. - class a earnings: 4/29 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.fb.com/home/default.aspx
Company Research Source: Reuters
Democratic senators urge FTC to act on Facebook 'friendly fraud' practices | Reuters 3 Min Read SAN FRANCISCO (Reuters) - Two Democratic U.S. senators called for the Federal Trade Commission to act on a complaint filed by consumer groups against Facebook Inc on Thursday that alleged the company scammed children into spending money on its platform. A coalition of consumer groups asked the FTC to investigate whether Facebook had engaged in deceptive practices, claiming the company lured children into making extensive in-game purchases without parental consent. The social media company settled a class-action lawsuit on the issue in 2016, but further details came to light last month after a request by the Center for Investigative Reporting here resulted in the unsealing of the court documents. The documents disclosed that Facebook employees referred to the practice as “friendly fraud” and called children who racked up thousands of dollars in charges “whales,” a term commonly used in casin Show less Read more
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