Facebook knew in 2015 that user data had actually been misused but continued for more than two years to describe such misuse publicly as a hypothetical risk.

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Location PART 2 - FOUR HIDDEN CHIMNEYS CHAPTER 9: ARE UNICORNS REALLY WHITE? From Connecting to Selling Us

"Facebook knew in 2015 that user data had actually been misused but continued for more than two years to describe such misuse publicly as a hypothetical risk."

The SEC said Facebook discovered the misuse in 2015 yet continued for more than two years to present user-data misuse to investors as merely hypothetical.

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Source title Facebook to Pay $100 Million for Misleading Investors About the Risks It Faced From Misuse of User Data

Source authors U.S. Securities and Exchange Commission

Source year 2019

Confidence high

Importance high