https://finance.yahoo.com/news/tech-firms-made-liable-fake-074539962.html

The cost of higher privacy standards will hit Facebook's profit margins for several years, the firm said on Wednesday, wiping over $120 billion off its share price, and the company is coming under concerted regulatory scrutiny in Britain, the United States and the European Union.

"Companies like Facebook made it easy for developers to scrape user data and to deploy it in other campaigns without their knowledge or consent," Damian Collins, chair of the Digital, Culture, Media and Sport Committee, said in a statement.