The U.S. Federal Trade Commission is investigating Twitter over claims the social media company violated a federal law that bans the use of personal data provided for security purposes to target ads, Twitter disclosed on Monday.
In a regulatory filing made public today, Twitter disclosed it received a draft FTC complaint that claims violations between 2013 and 2019.
Twitter said it estimates probable loss of between $150 million and $250 million in settlement charges, and has already recorded $150 million of that estimate in accrual related to the allegations.
Twitter is under investigation by the FTC for allegedly misusing user data, which it said could lead to a fine in the range of $150 million to $250 million https://t.co/sP0ENpa8qj
— Bloomberg Markets (@markets) August 4, 2020
Twitter disclosed in a regulatory filing that it could face a fine of up to $250 million from US authorities over its use of phone numbers and email addresses to target advertisements https://t.co/ELnMwTc0Gh
— CNN (@CNN) August 4, 2020