- Facebook is down about 1.4% in early trading Friday.
- COO Sheryl Sandberg said the company knew about Cambridge Analytica’s malicious practices over two years ago, but failed to act.
- “We made mistakes and I own them and they are on me,” she said.
- You can track Facebook’s stock price in real-time here.
FacebookCOO Sheryl Sandberg has been making the media rounds Thursday and Friday, giving interviews to NBC’s Today Show, Bloomberg TV, the Financial Times, and others, but it doesn’t appear to be calming investors’ nerves.
Shares of the social network slipped another 1.4%, in line with the market’s slump, early Friday after the executive told NBC’s Savannah Guthrie that Facebook knew Cambridge Analytica had mishandled user data two-and-a-half years ago, but failed to check any further after it was assured the data had been deleted.
“You are right we could have done this two-and-a-half years ago,” Sandberg said. “We thought the data had been deleted and we should have checked.”
Facebook’s stock price has declined by 14% since the data privacy scandal involving the Trump-linked data firm Cambridge Analytica first came to light in mid-March. Since then, Facebook has said personal information from 87 million users around the world may have been impacted by the leak.
The social network is now facing investigations in both the US and UK, with CEO Mark Zuckerberg expected to testify before two separate Congressional committees on April 10 and 11.
“To this day, we still don’t know what data Cambridge Analytica have,” Sandberg told the Financial Times in a separate interview. “We made mistakes and I own them and they are on me.”
Jim Edwards contributed to this report from London.
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Facebook’s growing privacy crisis:
- Facebook suspends Cambridge Analytica, a controversial data-analysis firm linked to the Trump campaign
- Mark Zuckerberg says the ‘right place’ for Facebook to be when it comes to sharing user data is ‘getting yelled at by both sides equally’
- The #DeleteFacebook movement is a strong reminder that none of these ‘free’ services are truly free
- Facebook says you have control over your personal information – but you don’t, really
- The Facebook-Cambridge Analytica scandal is the textbook case for why we need new privacy protections
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