The $5 billion deal to end a government investigation into the social media company's privacy practices included a liability waiver that critics are seizing upon as intolerable.
in July with Facebook to resolve an investigation into the social media giant's privacy practices, most critics at the time focused on how the amount, while potentially representing the largest fine in FTC history, amounted to just a fraction of the company's $56 billion-a-year revenue. But in recent weeks, observers have zeroed in on another area of worry.
The proposed decree came after a yearlong investigation that was triggered by revelations of data mining by the political firm Cambridge Analytica. A complaint filed by the U.S. government alleges Facebook "repeatedly used deceptive disclosures and settings to undermine users' privacy preferences," and to move forward, Facebook has agreed to the $5 billion fine plus the establishment of a new privacy committee at the company.
"Its broad release would bar the FTC from pursuing any claim concerning an unfair or deceptive consumer practice by Facebook based on information or complaints received by the agency before June of this year," states the amicus brief . "Such a release, extending far beyond the allegations raised by the government in this case, is neither fair nor reasonable.
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