On Friday, Shares of Facebook Inc (NASDAQ:FB), gained 2.53% to $102.19.
Facebook Inc is an online social networking service headquartered in Menlo Park, California.
Facebook, the world’s most popular social-networking service, has been scrutinized by regulators in the U.S. and Europe over how it uses subscribers’ private information.
According to Bloomberg, Facebook Inc (NASDAQ:FB), won dismissal of a $15 billion lawsuit accusing the company of secretly tracking the Internet activity of its users after they log off.
The company has also been hit with multiple privacy lawsuits, from a complaint that it scans users’ private e-mail messages for targeted advertising to a claim that its use of facial-recognition technology has “amassed the world’s largest privately held database of consumer biometric data.”
Facebook users alleged in a 2012 complaint that while they may have agreed to the company’s installation of “cookie” files on their computers to track and transmit their Web browsing, they didn’t consent to such monitoring after logging out of the social network. The lawsuit merged similar complaints filed on behalf of U.S. residents who subscribed to Facebook from May 2010 to September 2011 in 10 states, counting California, Texas and Alabama. Bloomberg Report
“We are happy with the court’s ruling,” Vanessa Chan, a spokeswoman for Menlo Park, California-based Facebook, said in an e-mail.
Facebook, Inc. operates as a social networking company worldwide. It provides a set of development tools and application programming interfaces that enable developers to integrate with Facebook to create mobile and Web applications.
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