Facebook Suit Over Subscriber Tracking Seeks $15 Billion

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posted on May, 18 2012 @ 12:38 PM
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Facebook Suit Over Subscriber Tracking Seeks $15 Billion


www.bloomberg.com

Facebook Inc. (FB), the social network operator whose shares began trading today, was sued for $15 billion in an amended complaint by subscribers who claim the company invaded their privacy by tracking their Internet use.

In the complaint filed yesterday in federal court in San Jose, California, the plaintiffs say Facebook improperly tracked users even after they logged out. Twenty-one cases making similar claims have been consolidated before the court. The latest filing seeks to proceed on
(visit the link for the full news article)




posted on May, 18 2012 @ 12:38 PM
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Well, I wonder if this has anything to do with their shares dropping today. They were up over 52 dollars earlier today, now they are back down to 38 dollars per share which was their original asking price. Some say the shares will rise again before the NASDAQ closes today but I'm unsure about that.

Personally, you should expect your internet usage to be tracked by a website who's main source of income is advertising based on your personal data that they have stored. I don't agree wth it but it should not be surprising.

Most people with a Facebook account probably never took the time to read the terms and conditions and or their privacy policy.

IMO this lawsuit will probably not go very far.

www.bloomberg.com
(visit the link for the full news article)
edit on 18-5-2012 by Corruption Exposed because: (no reason given)



posted on May, 18 2012 @ 12:42 PM
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reply to post by Corruption Exposed
 





Personally, you should expect your internet usage to be tracked by a website who's main source of income is advertising based on your personal data that they have stored. I don't agree wth it but it should not be surprising.


And thats why facebook is a big brother tool, i hope the Subscriber wins in the court case, because if does that means there will be more and more coming out with this, thus putting facebook in a bad situation.



posted on May, 18 2012 @ 01:14 PM
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Originally posted by Corruption Exposed

Well, I wonder if this has anything to do with their shares dropping today. They were up over 52 dollars earlier today, now they are back down to 38 dollars per share which was their original asking price. Some say the shares will rise again before the NASDAQ closes today but I'm unsure about that.

Personally, you should expect your internet usage to be tracked by a website who's main source of income is advertising based on your personal data that they have stored. I don't agree wth it but it should not be surprising.

Most people with a Facebook account probably never took the time to read the terms and conditions and or their privacy policy.

IMO this lawsuit will probably not go very far.

www.bloomberg.com
(visit the link for the full news article)
edit on 18-5-2012 by Corruption Exposed because: (no reason given)


Any coincidence the lawsuit was launched on the day the IPO opens.

BLATANT manipulation of stock price.

Anyone who knew this was happening just made themselves a fortune today. Guaranteed.



posted on May, 18 2012 @ 01:22 PM
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reply to post by Corruption Exposed
 


why are your internet histories worth $15Bn compensation ?



posted on May, 18 2012 @ 01:25 PM
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Facebook can easily track your internet usage after you logout. You must have seen like buttons all over the web. Many sites have these. The moment you open one of them, like button is loaded in your browser (it is basically an iframe which opens the domain facebook dot com) they know about it. And most probably it is saved in their database.

Even I can remember noticing it long ago when I used to use fb. Many sites have fb like box on their pages which shows the like button, fan count and faces of some of the fans with their names. Whenever you are logged in and you visit a site having that like box, most of the faces & names in it are of your friends (given that they are fans). But even after I logged out of facebook, I noticed that facebook showed me my friends in the likebox on many sites. This proves that they track you even after you log out to serve you relevant content. And also, it can be guessed that they store every bit of your activity.



posted on May, 18 2012 @ 01:25 PM
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reply to post by boncho
 


o' rly.. could you lay out the exact logistic trade strategy for us right here on how that would be possible?

i think the only reason for the timing of the suing is that there's no way to get 15 billion out of facebook until it went public.



posted on May, 18 2012 @ 01:27 PM
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Originally posted by ignorant_ape
reply to post by Corruption Exposed
 


why are your internet histories worth $15Bn compensation ?



The U.S. Wiretap Act “provides statutory damages of the greater of $100 per violation per day, up to $10,000, per Facebook user,” according to the complaint. Facebook’s more than 800 million members are entitled to about $15 billion in total, according to the plaintiffs.


Source



posted on May, 18 2012 @ 01:35 PM
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Originally posted by prevenge
reply to post by boncho
 


o' rly.. could you lay out the exact logistic trade strategy for us right here on how that would be possible?

i think the only reason for the timing of the suing is that there's no way to get 15 billion out of facebook until it went public.



I may have jumped the gun on that one.


In the complaint filed yesterday in federal court in San Jose, California, the plaintiffs say Facebook improperly tracked users even after they logged out.
*

It was filed yesterday, and the stock price was did not fluctuate more than half a percent from what I can tell. Although, there were some blocks of 5 million shares that were sold as soon as it rebounded from the dip today.

Again, I think I may have got carried away when I first read the story.



posted on May, 18 2012 @ 01:40 PM
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Originally posted by ignorant_ape
reply to post by Corruption Exposed
 


why are your internet histories worth $15Bn compensation ?


I'm not sure if you meant me specifically, so I'm going to assume you meant the people in the lawsuit


I believe this is a ridiculous lawsuit.

My internet histories probably aren't worth that much.

My internet bill is probably worth more than my internet histories



posted on May, 18 2012 @ 01:41 PM
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Originally posted by ignorant_ape
reply to post by Corruption Exposed
 


why are your internet histories worth $15Bn compensation ?
My privacy is priceless to me. Once it is gone, you can never get it back; like virginity. So, 15 billion per offended user seems right to me.



posted on May, 18 2012 @ 01:42 PM
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reply to post by boncho
 


I also believed that the timing was impeccable, and that it was meant to manipulate the market.

Facebook might have a good counter case on their hands, not that I care how Facebook comes out in this situation. Facebook annoys the hell out of me.



posted on May, 18 2012 @ 05:23 PM
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reply to post by morpheusxxz
 

Not if you are smart....

Facebook Blocker

FacebookBlocker

FB Phishing Protector

Facebook Privacy Scanner

Facebook Disconnect

I don't have a FB account, but my wife does, and she does not like to be tracked. And, by use of these extensions, she isn't.



posted on May, 18 2012 @ 06:28 PM
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reply to post by autowrench
 


Noscript works for this as well. Pages that have the like button installed, on noscript it will show up as facebook.net. Keep it blocked when you are not actually using facebook, but you have to allow it to click on like, or view recent messages, and a lot of other stuff.



posted on May, 18 2012 @ 08:26 PM
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But, as was posted in the other thread, it's a class action lawsuit.

This means that every facebook user would be involved. So...after legal fees we would probably get ten dollars each.



posted on May, 18 2012 @ 10:07 PM
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reply to post by Anonymous404
 


I don't think class action works like that. I am pretty sure you got to sign up to get a cut of the benefits if the case is won.



posted on May, 19 2012 @ 06:19 AM
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Originally posted by Anonymous404
So...after legal fees we would probably get ten dollars each.


More like "A" dollar each after the parasites have fed.



posted on May, 19 2012 @ 07:28 AM
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reply to post by Corruption Exposed
 


So?

Cant every user of Facebook also claim compensation????

I mean, i know that there are cookies that trace where you go and look in order to send you targeted advertising but what about all our other personal stuff we may have on the site or any other site?

Surely it should be illegal to track our every move and/or send our private info/photos to companies!!

One other thing, this new advertising campaign they will soon be running on FB will cause alot of people to delete their acounts from the site i'm sure... so Zuckerberg selling up could lead to a big disappointment for those who rushed to buy shares!!



posted on May, 19 2012 @ 10:24 AM
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Does FB even have 15 billion dollars to pay out if the law suit was to be successful? I have no idea if the revenue they have is high or not.



posted on May, 19 2012 @ 11:30 AM
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The shares actually went up right away pretty well, and then just as fast shot right back down lol





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