Twitter disclosed that it anticipates being forced to pay an FTC fine of $150 million to $250 million related to alleged violations over the social network’s use of private data for advertisi…
fine of $150 million to $250 million related to alleged violations over the social network’s use of private data for advertising.. Twitter said it had received a draft complaint from the Federal Trade Commission on July 28 alleging it violated a 2011 consent order, which required Twitter to establish an information-security program designed to “protect non-public consumer information.”
“The allegations relate to the Company’s use of phone number and/or email address data provided for safety and security purposes for targeted advertising during periods between 2013 and 2019,” Twitter said in the filing.. The company said it recorded an accrual of $150 million, included on its balance sheet for Q2. Twitter noted in the 10-Q filing that the matter “remains unresolved, and there can be no assurance as to the timing or the terms of any final outcome.
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