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Facebook -3%: Settling civil rights suit; Zuckerberg spurns UK hearing

Published 03/27/2018, 12:40 PM
© Reuters. Facebook -3%: Settling civil rights suit; Zuckerberg spurns UK hearing
META
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  • Facebook (NASDAQ:FB) will settle a civil-rights lawsuit, arguing that it had a passive role in race-targeted ads that enabled discriminatory housing practices, Bloomberg reports.
  • The National Fair Housing Alliance and other groups charged Facebook with allowing advertisers to exclude protected groups on characteristics like gender, family makeup and race.
  • A written settlement will take about 45 days to put together.
  • After eking out some morning gains, the stock is now at a session low, down 3.1%.
  • And Mark Zuckerberg won't head to an appearance before a UK parliamentary committee, a decision called "absolutely astonishing" by the committee's chair, Damian Collins. “I would certainly urge him to think again if he has any care for people that use his company’s services," Collins said after the committee heard from Cambridge Analytica whistleblower Christopher Wylie for nearly three hours.
  • Now read: Buy Facebook Before Bad Press Fades


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