Facebook shares drop sharply after unearthed emails reportedly show Mark Zuckerberg is aware of 'problematic privacy practices'

Business Insider | Jun 12, 2019, 09.52PM IST

  • Facebook shares dropped sharply midday Wednesday after The Wall Street Journal reported the technology company had uncovered emails that appear to reflect a connection between CEO Mark Zuckerberg and "potentially problematic privacy practices at the company."
  • The emails were uncovered in response to a probe into the company by the Federal Trade Commission, the WSJ reported, citing people familiar with the matter.
  • Watch Facebook trade live.

Facebook shares tumbled by as much as 2.9% in midday trading Wednesday as investors digested a Wall Street Journal report that described what could be a connection between chief executive Mark Zuckerberg and questionable privacy practices.

The social network has uncovered emails that appear to show Zuckerberg was aware of "potentially problematic privacy practices" at Facebook, the WSJ reported, citing people familiar with the matter.

Read more: Facebook internal emails appear to show that Mark Zuckerberg was aware of problematic privacy practices

The emails were reportedly uncovered in response to a Federal Trade Commission probe. The emails could possibly throw Zuckerberg's commitment to user privacy into question, the WSJ said.

Facebook has fallen under intense scrutiny in the past year amid a string of scandals related to how the tech giant handles its users' data. The company did not immediately respond to Business Insider's request for comment.

The move on Wednesday comes a week after regulatory concerns slammed Facebook and the broader technology space. The FTC would oversee any antitrust probe into whether Facebook's practices have hurt competition in the digital market, the WSJ reported last week, sending shares sharply lower.

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