The firm obtained a grievance from the Federal Trade Commission on July 28 alleging it had used information “provided for safety and security purposes for targeted advertising during periods between 2013 and 2019,” it mentioned in the filing. Twitter estimates the grievance may end in a lack of between $150 million and $250 million, it mentioned.
The social media firm admitted last October that it had “inadvertently” focused advertisements at customers via contact particulars that they supplied for safety functions. Twitter ( customers are requested to offer data like their cellphone quantity to assist safe their account via companies similar to two-factor authentication. )
The FTC didn’t instantly reply to a request for remark. The company beforehand reached a $5 billion settlement with Facebook ( — the most important superb within the fee’s historical past — over the corporate’s mishandling of consumer information. )
The grievance in opposition to Twitter got here a number of days after the corporate’s newest earnings report, wherein it reported revenues of $683 million for the second quarter of 2020, and round two weeks after a massive hack that compromised high-profile Twitter accounts together with these of Joe Biden, Barack Obama, Bill Gates and Jeff Bezos.