Facebook stock faces storm after Cambridge Analytica row

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1920 x 1080 Facebook hd wallpapers,Poster,walls,picture,FacebookFacebook CEO Mark Zuckerberg has apologized for major data breach in Cambridge Analytica (CA) Scam. Facebook has lost shares worth nearly $50 billion since the report on links of CA and US Presidential elections campaign 2016 came to light. Data mining firm has accessed information from 50 million Facebook users without their approval.

The company now has a $479 billion market value.

“I am really sorry that this has happened,” Zuckenberg said.

Zuckenberg has accepted the CA scam as a major breach of trust and even felt sorry for the same. He added: “We have a basic responsibility to protect people’s data, and if we can’t do that then we don’t deserve to have the opportunity to serve people.”

Lawmakers in US and UK are calling for founder Zuckerberg to testify about the compromised data and Facebook’s policies to protect user privacy.

Analyst says Zuckerberg’s apology a positive step in restoring investors’ confidence.