Facebook stock drops on concerns insiders could flood market Nasdaq's headquarters in Times Square in New York. Unlike Facebook stock, the Nasdaq index was up slightly in early trading Thursday. (Carolyn Cole / Los Angeles Times / August 16, 2012) By Andrew Tangel August 16, 2012, 7:08 a.m. Facebook's stock has disappointed investors who snapped up shares in the social networking company's May 18 IPO. Starting Thursday, company insiders are cleared to offload their stakes in the empire they built, or they can continue to hold on to their shares for the longer haul. Will they flee the stock or stay? Facebook Inc. lost $1.20, or 6%, to $20 a share shortly after the opening bell as more than 271 million new shares became eligible to trade in the stock market. Los Angeles Times-14 minutes Unlike Facebook stock, the Nasdaq index was up slightly in early trading ... Facebook's stock has disappointed investors who snapped up shares in the social ... In-Depth: Facebook Freeing 60% More Shares Seen Weighing on Its Stock San Francisco Chronicle Facebook stock hits all-time low as insiders get first chance to sell CNNMoney Decision time for Facebook insiders: Buy or sell? Bizjournals.com (blog) Wall Street Journal (blog) - Telegraph.co.uk - Today's THV all 401 news articles »

Germans Reopen Investigation on Facebook Privacy

By KEVIN J. O’BRIEN

Published: August 15, 2012

Hamburg Office of Data Protection and Freedom of Information

The issue has “grave implications for personal data,” said Johannes Caspar, a commissioner in Hamburg.

The data protection commissioner in Hamburg, Johannes Caspar, suspended the inquiry in June, but said he reopened it after attempts to persuade Facebook to change its policies had failed.

“We have met repeatedly with Facebook but have not been able to get their cooperation on this issue, which has grave implications for personal data,” Mr. Caspar said in an interview.

The company’s use of analytic software to compile photographic archives of human faces, based on photos uploaded by Facebook’s members, has been problematic in Europe, where data protection laws require people to give their explicit consent to the practice.

Instead of using such an opt-in system, Facebook requires them to opt out instead.

http://www.nytimes.com/2012/08/16/technology/germans-reopen-faceboo...