Facebook faces US $15 billion lawsuit - News and Current Events | futures.io
futures.io futures trading

Go Back   futures.io

> Futures Trading, News, Charts and Platforms > Traders Hideout > News and Current Events

Facebook faces US $15 billion lawsuit
Started:May 19th, 2012 (11:09 AM) by kbit Views / Replies:225 / 0
Last Reply:May 19th, 2012 (11:09 AM) Attachments:0

Welcome to futures.io.

Welcome, Guest!

This forum was established to help traders (especially futures traders) by openly sharing indicators, strategies, methods, trading journals and discussing the psychology of trading.

We are fundamentally different than most other trading forums:
  • We work extremely hard to keep things positive on our forums.
  • We do not tolerate rude behavior, trolling, or vendor advertising in posts.
  • We firmly believe in openness and encourage sharing. The holy grail is within you, it is not something tangible you can download.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community. It's free and simple, and we will never resell your private information.

-- Big Mike

Thread Tools Search this Thread

Facebook faces US $15 billion lawsuit

Old May 19th, 2012, 11:09 AM   #1 (permalink)
Elite Member
Aurora, Il USA
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: futures
kbit's Avatar
Posts: 5,839 since Nov 2010
Thanks: 3,275 given, 3,321 received

Facebook faces US $15 billion lawsuit

Tracking users after they log out and violating US wiretapping laws – these are the allegations behind a 15-billion-dollar nationwide class-action lawsuit filed against Facebook in California.

*The suit, combining 21 cases of alleged privacy violations by the social networking giant, was filed on Friday in the Federal Court in San Jose, Emil Protalinski writes on ZDNet.com. In their consolidated complaint, the plaintiffs claim that Facebook used cookies to track them across the Internet.

And yet, where does the staggering sum of the lawsuit come from? Violation of the Federal Wiretap Act provides suggests compensation of US $100 per day per user for every case of violation, up to a maximum of US $10,000 per user. The accusations also fall under the Computer Fraud and Abuse act, the Stored Communications Act, as well as various California Statutes and California common law.

“This is not just a damages action, but a groundbreaking digital-privacy rights case that could have wide and significant legal and business implications,” said David Straite, a partner at Stewarts Law. The firm is one of the plaintiffs leading the claim.

Accusations that Facebook used cookies to track its users even after they log out are countless. However, all such claims have been turned down so far on the grounds that cookies are simply not legally considered to be wiretaps. Proving damage is also a challenge here.

In September, the Data Protection Commissioner (DPC) in Ireland, where Facebook has its international headquarters, agreed to conduct a privacy audit of the network’s activities. Interestingly enough, and thankfully for Facebook, the three-month audit concluded that the company makes “innovative use of cookies to identify unusual or suspicious activity” on an account.

As for now, Facebook insists "this complaint is without merit" and prepares to "fight it vigorously" – PCWorld quotes Andrew Noyes, the network's manager of public policy communications.

Facebook faces US $15 billion lawsuit — RT

Reply With Quote


futures.io > Futures Trading, News, Charts and Platforms > Traders Hideout > News and Current Events > Facebook faces US $15 billion lawsuit

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Upcoming Webinars and Events (4:30PM ET unless noted)

NinjaTrader 8: Programming Profitable Trading Edges w/Scott Hodson

Elite only

Anthony Drager: Executing on Intermarket Correlations & Order Flow, Part 2

Elite only

Adam Grimes: Five critically important keys to professional trading

Elite only

Machine Learning Concepts w/FIO member NJAMC

Elite only

MarketDelta Cloud Platform: Announcing new mobile features

Dec 1

NinjaTrader 8: Features and Enhancements

Dec 6

Similar Threads
Thread Thread Starter Forum Replies Last Post
Facebook Faces User Distrust, Advertising Apathy, Poll Shows Quick Summary News and Current Events 0 May 15th, 2012 01:30 AM
Facebook IPO faces global bear attack kbit News and Current Events 0 May 3rd, 2012 08:27 AM
Judge narrows Lehman $8.6 billion lawsuit vs. JPMorgan kbit News and Current Events 0 April 19th, 2012 09:40 PM
Yahoo sues Facebook in massive patent infringement lawsuit GridKing News and Current Events 0 March 12th, 2012 06:53 PM
Why Bank of America Is Being Haunted by $50 Billion Lawsuit Quick Summary News and Current Events 0 September 28th, 2011 04:30 PM

All times are GMT -4. The time now is 07:11 AM.

Copyright © 2016 by futures.io. All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts

Page generated 2016-10-27 in 0.08 seconds with 19 queries on phoenix via your IP