Recently we posted a story on the controversy surrounding the social media giant and the data gathering company. Since the situation has been unraveled with many different news outlets putting out stories that confirm the privacy breach on the part of Cambridge Analytica. The company’s CEO Alexander Nix who has been secretly recorded by channel 4 for the past 4 months. In the footage that channel 4 provided the CEO makes many claims and statements on Cambridge Analytica’s capabilities, citing that it helped Donald Trump win the 2016 election which was false since the Trump administration fired the company shortly after they hired them due to incompetence. So any of the boasts and statements that have come out of the CEO are in fact false.
Facebook however is getting the heaviest backlash it has ever gotten, with its stock plummeting to 162.81 USD at its lowest point and is slowly recovering its value as time goes on. But there is also currently a class action lawsuit, some of the Facebook shareholders have decided to file this lawsuit because of the alleged breach of Facebook’s own rules specifically the selling of private information of its users. And after this controversy it seems like the founder of Facebook Mark Zuckerberg is going to take charge and reform the social media giant to be more secure for its users.