Violation Tracker Individual Record

Company: 
Facebook Inc.
Current Parent Company: 
Facebook
Penalty: 
$100,000,000
Year: 
2019
Date: 
July 24, 2019
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Violation Description: 

The SEC announced that Facebook would pay $100 million to settle allegations that it made misleading statements to investors about the possibility that the data of its customers could be misused. For more than two years, the SEC said, Facebook's public disclosures presented that risk as merely hypothetical when it knew that a third-party developer had actually engaged in such misuse.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Securities and Exchange Commission
Civil or Criminal Case: 
civil
HQ Country of Parent: 
USA
HQ State of Parent: 
California
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
internet services
Specific Industry of Parent: 
information technology
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.