Milberg Tadler Phillips Grossman LLP Announces Facebook, Inc. Securities Law Investigation

NEW YORK, March 19, 2018 /PRNewswire/ -- Milberg Tadler Phillips Grossman LLP is investigating whether Facebook, Inc. (Nasdaq: FB) violated the securities laws.   

On March 17, 2018, the New York Times reported that in 2015 the political research firm Cambridge Analytica, had taken personal data from more than 50 million Facebook profiles, in violation of Facebook's data privacy policies.  

According to the New York Times article, Cambridge Analytica received the information in 2015 through an app created by Dr. Aleksandr Kogan that was downloaded by 270,000 people, but which Cambridge Analytica then used to access the information of 50 million Facebook users. The information was used to push political stories and ads in support of Donald Trump's presidential campaign, according to the Times.

In reaction to the New York Times report, Facebook's stock price fell by nearly 7% ($12.53 per share) on March 19, 2018, to close at $172.56 per share.

We are investigating whether Facebook investors that lost money have any recourse pursuant to the securities laws. If you would like more information, or have information you think may be useful to our investigation, please contact the following:

Andrei Rado, Esq.
Milberg Tadler Phillips Grossman LLP
One Pennsylvania Plaza, 19th Fl.
New York, NY 10119
Phone number: 800-320-5081
Email: [email protected]

Milberg Tadler Phillips Grossman LLP is an investor protection and consumer protection law firm.  

Attorney Advertising. Prior results do not guarantee a similar outcome.

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SOURCE Milberg Tadler Phillips Grossman LLP