Facebook stock plunges amid new federal investigation Video

Transcript for Facebook stock plunges amid new federal investigation

We move on to new trouble for Facebook. The ftc confirmed it is investigating them for possibly compromising privacy as concerns grow about Facebook collecting phone and text message data from users who click a specific button on their profiles. ABC’s Rebecca Jarvis with the latest. Good morning. Good morning. This is pretty shocking for a lot of people. Facebook says it is collecting the call and text history of some users who have opted into sharing that information. It’s all in the fine print but the backlash is growing as many discover just how much data the social media has about them an their friends. This morning, Facebook under fire. The pressure intensifying in the wake of that Cambridge analytica privacy scandal affecting up to 50 million users. The tech titan’s stock down 10% over the last week. CEO Mark Zuckerberg alone losing nearly 10 billion in just 11 days plus at least three major companies pulling their ads off the platform. At least for now. Advertisers have no other place to go but ultimately what’s most important is we really be thoughtful about the way that we’re advertising on the platform and make sure we’re doing everything that we can to do so responsibly. Reporter: 37 attorneys general writing to mark Zuckerberg they are profoundly concerned demanding the social media update users with easier ways to control their accounts. And now a number of employees inside Facebook tell ABC news they’re disturbed and outraged by the situation. This was a major breach of trust and I’m sorry this happened. Reporter: Meantime, new questions about just how much information Facebook’s been collecting. The company now acknowledging messenger and facelook lite users with android phones who uploaded contacts and chosen to opt in have had their call and text history logged. Like Dylan Mckay, posting to Twitter what appears to be a full call log from his phone which goes back years. Facebook seems to be reeling from this, Rebecca. Their stock has taken a hit over the last few days. Walk us through the issues with messenger. The issues with messenger and this is for android users. This is what we’re referencing in the piece. Anybody who has that messenger app or Facebook lite on an android phone can turn it off but unsyncing contact. That will guarantee you won’t share any more — is that that guarantees you’re not sharing it with Facebook. Important information, thanks very much.

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