The Federal Trade Commission says it is investigating Facebook’s privacy practices following a week of scandals including whether the company engaged in “unfair acts” that cause “substantial injury” to consumers.
Facebook’s stock, which already took a big hit last week, plunged as a result.
Facebook said in a statement on Monday that the company remains “strongly committed” to protecting people’s information.The social media giant says it welcomes the opportunity to answer the FTC’s questions.
News outlets reported on the FTC investigation last week, but the FTC hadn’t confirmed it until Monday.
Facebook reached a settlement with the FTC in 2011 offering privacy assurances.