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Facebook climbs after the FTC approves the company’s $5 billion privacy settlement (FB)

FILE PHOTO: Facebook CEO Mark Zuckerberg testifies before a House Energy and Commerce Committee hearing regarding the company's use and protection of user data on Capitol Hill in Washington, U.S., April 11, 2018. REUTERS/Aaron P. Bernstein/File Photo/File Photo

  • Facebook stock extended gains in late trading Friday after the FTC approved a $5 billion settlement payment with the social media company. The stock closed up roughly 2%.
  • The payment resolves an investigation stemming from the Cambridge Analytica scandal.
  • The FTC settlement marks the most significant action yet against Facebook for its series of missteps that compromised users’ data and privacy.
  • Watch Facebook trade live here.

Facebook stock rose in the last few minutes of regular-hours trading on Friday after the US Federal Trade Commission approved a record privacy settlement with the social media company, requiring it to pay about read more >>>

Source:: BusinessInsider.Com