Twitter could be facing an FTC fine of up to $250 million over allegations that it violated an agreement over user data privacy (TWTR)

5:24 PM

Jack DorseyDrew Angerer/Getty Images

  • Twitter is under investigation by the FTC and could face a fine of anywhere between $150 million to $250 million, the company disclosed in a regulatory filing Monday.
  • Twitter said the FTC notified it of allegations that it improperly targeted ads at users based on information they had provided for "safety and security purposes," in violation a 2011 agreement.
  • Twitter admitted last year that it had "inadvertently" targeted users with ads based on information they had provided to better secure their accounts.
  • The company's privacy and security practices have come under renewed scrutiny following a major hack last month that resulted in dozens of high-profile accounts being compromised.
  • Visit Business Insider's homepage for more stories.

Twitter disclosed in a regulatory filing Monday that it is under investigation by the Federal Trade Commission related to allegations that it violated a 2011 consent agreement  — and that it's expecting a "probable loss" of somewhere between $150 million and $250 million.

"Following the announcement of our Q2 financial results, we received a draft complaint from the FTC alleging violations of our 2011 consent order. Following standard accounting rules we included an estimated range for settlement in our 10Q filed on August 3," a Twitter spokesperson told Business Insider. A spokesperson for the FTC declined to comment.

See the rest of the story at Business Insider

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