Facebook stock drops 7% in 2 hours as the company faces legal troubles

Facebook stock dropped 7% early Thursday in New York, as the tech giant faced legal trouble and other questions over the security of the user data of millions of users.

The stock, which traded at $30.94 at 11:31 a.m.

ET, was down more than 5% for the day.

Facebook is the largest U.S. social network by users.

Shares of Facebook fell in Tokyo and London, and in Frankfurt and Paris, according to data compiled by Bloomberg.

The company said it would be “in the middle of preparing for an initial public offering.”

A person familiar with the matter, who spoke on condition of anonymity because the company was not authorized to discuss the matter publicly, said Facebook was cooperating with the Justice Department.

The news came after Facebook announced that it had secured $1.25 billion in a deal with Yahoo Inc., which had filed suit in New Zealand in December to prevent the social network from going public.

Yahoo sued to stop the public offering, alleging that Facebook had violated the terms of its $1 billion sale of Yahoo to Verizon Communications Inc. in 2015, and that the deal was based on fraudulent misrepresentations by Yahoo and its chief executive officer, Marissa Mayer.

The Justice Department has asked a federal judge in California to force Yahoo to hand over more than 80 million Yahoo users’ personal information.

Yahoo has argued that the information would not be used for any purpose.

Facebook said it will share the information to help prevent future fraud and abuse.

Facebook has faced criticism in the past from privacy advocates, who say the social networking giant’s users’ data is used to promote advertising and other products, and from some of the largest technology companies, including Alphabet Inc., Google Inc., and Apple Inc.

The social network also has faced scrutiny in the wake of the government’s investigation of whether the company abused its data to boost its advertising revenue.

SPONSORSHIP BENEFITS

Best Online Casino » Play Online Blackjack, Free Slots, Roulette : Boe Casino.You can play the favorite 21 Casino,1xBet,7Bit Casino and Trada Casino for online casino game here, win real money! When you start playing with boecasino today, online casino games get trading and offers. Visit our website for more information and how to get different cash awards through our online casino platform.【우리카지노】바카라사이트 100% 검증 카지노사이트 - 승리카지노.【우리카지노】카지노사이트 추천 순위 사이트만 야심차게 모아 놓았습니다. 2021년 가장 인기있는 카지노사이트, 바카라 사이트, 룰렛, 슬롯, 블랙잭 등을 세심하게 검토하여 100% 검증된 안전한 온라인 카지노 사이트를 추천 해드리고 있습니다.한국 NO.1 온라인카지노 사이트 추천 - 최고카지노.바카라사이트,카지노사이트,우리카지노,메리트카지노,샌즈카지노,솔레어카지노,파라오카지노,예스카지노,코인카지노,007카지노,퍼스트카지노,더나인카지노,바마카지노,포유카지노 및 에비앙카지노은 최고카지노 에서 권장합니다.우리카지노 - 【바카라사이트】카지노사이트인포,메리트카지노,샌즈카지노.바카라사이트인포는,2020년 최고의 우리카지노만추천합니다.카지노 바카라 007카지노,솔카지노,퍼스트카지노,코인카지노등 안전놀이터 먹튀없이 즐길수 있는카지노사이트인포에서 가입구폰 오링쿠폰 다양이벤트 진행.카지노사이트 추천 | 바카라사이트 순위 【우리카지노】 - 보너스룸 카지노.년국내 최고 카지노사이트,공식인증업체,먹튀검증,우리카지노,카지노사이트,바카라사이트,메리트카지노,더킹카지노,샌즈카지노,코인카지노,퍼스트카지노 등 007카지노 - 보너스룸 카지노.