Facebook shares drop on report of widened probe on data scandal

Reuters 

(Reuters) - Shares of Inc fell 2 percent on Tuesday, after a report that a federal probe on the linked to had been broadened and would include more government agencies.

The stock lost about 18 percent of its value in the seven trading days after the data scandal broke, but has since gained about 27 percent to date.

has faced intense scrutiny around the scandal, which saw millions of users' data improperly accessed by the political consultancy. The Federal Bureau of Investigation, the and the have joined the in its inquiries about the two companies and the sharing of personal information of 71 million Americans, reported citing five people.

A Facebook told late on Monday that it is cooperating with officials in the U.S., UK and beyond.

"We've provided public testimony, answered questions, and pledged to continue our assistance as their work continues," the said.

The questioning from federal investigators centers on what Facebook knew three years ago and why the company did not reveal it at the time to its users or investors, said.

(Reporting by in Bengaluru; Editing by Bernard Orr)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, July 03 2018. 20:02 IST