(Reuters Breakingviews) - The U.S. Federal Trade Commission may want to play its...
The logo of Facebook is pictured during the Viva Tech start-up and technology summit in Paris, France, May 25, 2018. REUTERS/Charles Platiau
Facebook estimated last month that financial penalties would be in the range of $3 billion to $5 billion and signaled an agreement was fast in the making. That was probably hasty. Agency Chair Joseph Simons wants the backing of at least one of two Democrats, who are not yet on board, according to a report in the Wall Street Journal.
Yet when Facebook disclosed its legal estimates, shares shot up around 6%. Investors may see the potential fine as a simple cost of doing business. Or it could be a sign the markets were encouraged the company was not heading for a protracted lawsuit.
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