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Pressure on Facebook Continues After Cambridge Analytica Revelations

Facebook continued to find itself under pressure late Tuesday following revelations that Trump campaign-linked Cambridge Analytica had accessed data from 50 million users without their consent. The company said in a statement that it was “deceived,” but at least one class action lawsuit alleged that Facebook itself deceived its shareholders.

Mark Zuckerberg remained silent about the crisis throughout the day, but a company spokesperson said in a statement to media that the Facebook CEO was “working around the clock” alongside COO Sheryl Sandberg and their respective teams on getting all the facts about the incident to take the appropriate actions moving forward.

“The entire company is outraged we were deceived,” the statement continued. “We are committed to vigorously enforcing our policies to protect people’s information and will take whatever steps are required to see that this happens.”

At least one Facebook shareholder begged to disagree. Fan Yuan, who purchased Facebook shares between early 2017 and March of 2018, filed a lawsuit against the company Tuesday, alleging that it didn’t properly disclose the fact that Cambridge Analytica had access to data of millions of the company’s customers, leading to inflated share prices.

The lawsuit, which was filed in a Northern California federal court, seeks class action status, suggesting that there could be “hundreds of thousands” of shareholders negatively impacted by Facebook’s actions. Gizmodo was first to report about the lawsuit.

A Facebook spokesperson didn’t directly comment on the lawsuit, and instead pointed to a statement made by the company’s general counsel Paul Grewal from last week, in which he said that the company was “committed to vigorously enforcing our policies to protect people’s information.”

Facebook also faced some more pressure in the court of public opinion Tuesday. Brian Acton, the co-founder of Whatsapp, took to Twitter Tuesday afternoon to suggest that it was time for users to delete Facebook.

Acton had been working for Facebook until leaving last fall. He had joined the company in 2014, when Facebook spent $19 billion to acquire Whatsapp.

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