Facebook Inc FB.O Chief Executive Mark Zuckerberg met US lawmakers individually on Monday and told Congress in written testimony that the social media network should have done more to prevent itself and its members' data being misused.
And Wall Street analysts are counting on Facebook to survive a user revolt, with shares up some 4 percent after a nine-month low hit late last month. Zuckerberg also was meeting with lawmakers on Monday and plans to appear at a Senate committee hearing on Tuesday.
Facebook claimed it has made real progress since Brexit and the 2016 United States presidential election in fighting fake news, as well as combating foreign interference, in elections in France, Germany, Alabama and Italy.
The statement comes as Zuckerberg prepares to face tough questions in the US Congress tomorrow over how Facebook was potentially used to spread fake news around the privacy breach and whether it was used to sway the 2016 presidential election.
Zuckerberg also apologized for being "too slow to spot and respond to Russian interference" during the 2016 USA presidential election. Eastern Time (ET). The following day, Zuckerberg is set to be grilled by members of the House Energy and Commerce Committee at 10 a.m. ET.
Facebook CEO Mark Zuckerberg waits in the office lobby of Sen.
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Last week, the company announced new privacy tools to be in place in user news feeds on Monday, and said it would notify the 87 million users affected by the data hijacking scandal, amid probes underway on both sides of the Atlantic.
A Facebook official confirmed that the company had hired a team from the law firm WilmerHale and outside consultants to help prepare Zuckerberg for his testimony and how lawmakers may question him.
How will I know if my information was taken?
Between the Cambridge Analytica scandal, American elections influenced by a defiant adversary, and deliberate misinformation on social media sites, there are enough existential crises to our democracy.
The flurry of activity highlights Facebook's rush to get its house in order before Zuckerberg's high-stakes debut testifying on Capitol Hill this week.
Since 2016, Facebook has faced an array of controversies related to its platform.
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Facebook Inc Chief Executive Mark Zuckerberg swapped his trademark T-shirt and jeans for a dark suit and a purple tie on Monday as he met US lawmakers to apologize for the social network's misuse of its members' data and to head off possible regulation. That was the giant loophole the British researcher legitimately used to access data but then unjustly sold to Cambridge Analytica. GBH said it had conducted surveys that estimated almost 15 per cent of Facebook users had curtailed their activity on the platform in recent weeks because of the data privacy concerns.
Zuckerberg appeared willing "to turn things around where he sees mistakes that have been made", Senator Bill Nelson, the top Democrat on the Senate Commerce Committee, said after meeting with the CEO.
The Silicon Valley firm also deleted a feature that allowed people to search for users' profiles based on their e-mail addresses and phone numbers, which Mr. Zuckerberg said had been abused by "malicious actors" to collect information about many Facebook users.
"And Facebook keeps saying its an idealistic company".
Zeynep Tufekci from University of North Carolina apprehended that the testimony just turns into congressional spectacle, that lawmakers yell at Zuckerberg.
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