Facebook will pay $100 million to settle with the SEC over improper use of personal information

The small toy figures are seen in front of the Facebook logo in this illustration picture, April 8, 2019. REUTERS/dado Ruvic/Illustration

(Reuters) – Facebook Inc’s (FB.D) it was agreed to pay a total of $100 million in fines to settle charges by the U.s. Securities and Exchange Commission that it misled investors for more than two years, about the abuse of users ‘ data, the regulator said on Wednesday.

The SEC also said Facebook was Dec. By 2015, that a researcher had been improperly sold, the information associated with tens of millions of users to data analytics company in Cambridge Analytica, but has no knowledge of the breach until March 2018, enabling the stock to drop.

Facebook did not admit or deny wrongdoing in agreeing to settle.

Reporting by Jonathan Stempel in New York

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