Facebook reached a settlement to pay a fine for allowing Cambridge Analytica to access user data, but stopped short of admitting wrongdoing
LONDON—Facebook Inc. reached a settlement with the U.K.’s privacy regulator to pay a contested £500,000 fine for allowing political-data firm Cambridge Analytica to improperly access users’ data, but stopped short of admitting wrongdoing.
The fine, issued almost exactly a year ago, is chump change for a company expected to announce a quarterly net profit of $5.5 billion later Wednesday. But it was the first regulatory penalty against Facebook in a scandal that swelled into a reputational nightmare for Chief Executive...
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