August 3, 2020
(Reuters) – The U.S. Federal Trade Commission is probing Twitter Inc for alleged violations of a law that prevents the social network from using personal data provided for security purposes to target ads, the company disclosed on Monday.
In a regulatory filing, Twitter said it received a draft FTC complaint alleging violations between 2013 and 2019.
Twitter said it estimates probable loss of between $150 million and $250 million in settlement charges, and has already recorded $150 million of that estimate in accrual related to the allegations.
(Reporting by Munsif Vengattil in Bengaluru; Editing by Devika Syamnath)
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