Big leak to Facebook; More than 6% broken stocks, 2 lakh crore submerged
In
the case of data leaks of hundreds of millions of users, Facebook has been
shocked. Due to this news, Facebook's stock fell by more than 6% on
Monday, thereby reducing its market cap by about two lakh crores ($ 32
billion). This is the biggest fall of 2 months in Facebook's stock. In
this matter, the governments of America and several European countries have
also raised questions
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US and European officials raised questions
According
to New York Times and London Observer, in 2016, about five million Facebook
users have been accused of stealing personal information on Cambridge
Analytical, a firm helping Donald Trump. This information has been used
during the election. After this news, American and European officials have
also responded to Facebook. Its effect is shown on the company's stock.
More than 6 percent broken stocks
On
the opening of the American stock market on Monday, Facebook's shares on the
Dowjos dropped by 5.2 percent to $ 175. This decline later increased to
more than 6 per cent. This is the biggest intra-de-deck in stock after
January 12. With this, the company's market cap dropped to $ 500 billion
with a fall of approximately $ 32 billion
The
impact was also on Personal Wealth of Facebook Founder and CEO Mark Zuckerberg,
which declined about 6.1 percent within a few hours. According to Forbes
Real Time Billionaire Index, the personal wealth of Zuckerberg decreased by $
4.6 billion to $ 70 billion, according to the wealth of the rich.
The name of the company that plays a
key role in Trump's campaign
According
to the BBC, Facebook's Deputy Legal Adviser Paul Grewal said in his blog that
the matter is being investigated and "Cambridge Analytical"
suspension will continue until the investigation is completed. This firm
played a key role in Trump's Election Campaign. He said that legal steps
can also be taken if needed.
Charges of selling data
According
to reports, Professor Alexander Kogan of Cambridge University had created a
'Personality App' in 2015, and raised substantial details about voters' trends
and likes and dislikes about elections. He later sold the data to a third
party, including Cambridge Analytical and its parent company Strategic Communications.
App-supported game
Grewal
said, "We got the information that Professor Kogan created an app called
YorditalLife in 2013 and made it accessible to 2.70 million people. People
had given opinions on different issues related to elections and provided contracts
and address of other people. Professor Cogan did not delete the data and
sold it, which is against Facebook's policies.
Legal steps can be taken
He
said, 'Facebook had asked to immediately delete the data when it came to the
notice. But despite the trust of deleting, the data was sold, which proved
to be helpful in the victory of Trump. "
Grewal
said that legal steps can be taken against the company. There is currently
no comment for Cambridge University in this case.
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