Facebook slips after Sheryl Sandberg says it knew about Cambridge Analytica 2.5 years ago

Facebook COO Sheryl Sandberg

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Facebook COO Sheryl Sandberg
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Axios

Facebook COO Sheryl Sandberg has been making the media rounds Thursday and Friday, giving interviews to NBC’s Today Show, Bloomberg TV, the Financial Times, and others, but it doesn’t appear to be calming investors’ nerves.

Shares of the social network slipped another 1.4%, in line with the market’s slump, early Friday after the executive told NBC’s Savannah Guthrie that Facebook knew Cambridge Analytica had mishandled user data two-and-a-half years ago, but failed to check any further after it was assured the data had been deleted.

“You are right we could have done this two-and-a-half years ago,” Sandberg said. “We thought the data had been deleted and we should have checked.”

Facebook’s stock price has declined by 14% since the data privacy scandal involving the Trump-linked data firm Cambridge Analytica first came to light in mid-March. Since then, Facebook has said personal information from 87 million users around the world may have been impacted by the leak.

The social network is now facing investigations in both the US and UK, with CEO Mark Zuckerberg expected to testify before two separate Congressional committees on April 10 and 11.

“To this day, we still don’t know what data Cambridge Analytica have,” Sandberg told the Financial Times in a separate interview. “We made mistakes and I own them and they are on me.”

Jim Edwards contributed to this report from London.

Read more on Facebook’s growing privacy crisis:

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Markets Insider