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“We decided to reach a settlement, since it is in the interests of our shareholders and the community to leave this topic in the past,” Mr. Wehner told investors. According to him, the amount of $ 550 is included in the expense column of the company's report for the fourth quarter of last year.
Recall, users of the social network Facebook sued the company in 2016. Plaintiffs claim that Facebook’s face recognition feature, which involves tagging photos, illegally collected and stored biometric data. Thus, according to them, the company violated state law on the confidentiality of biometric information.
Earlier, the company reported an increase in quarterly profits and users above forecasts. Facebook's net profit grew 7% from last year to $ 7.3 billion. Revenue grew 25% to $ 21 billion in the last three months of last year.
source: nytimes.com
Recall, users of the social network Facebook sued the company in 2016. Plaintiffs claim that Facebook’s face recognition feature, which involves tagging photos, illegally collected and stored biometric data. Thus, according to them, the company violated state law on the confidentiality of biometric information.
Earlier, the company reported an increase in quarterly profits and users above forecasts. Facebook's net profit grew 7% from last year to $ 7.3 billion. Revenue grew 25% to $ 21 billion in the last three months of last year.
source: nytimes.com
