U.S Government asks Facebook Inc (NASDAQ:FB) for data- books

Posted by Lynn Eisler August 28, 2013 0 Comment 881 views

The United States Government has asked Facebook Inc (NASDAQ:FB) to furnish some more data. This information covers 11,000 requests that affect almost 20,000 accounts and is much more than what has been requested by any foreign government for the first six months of 2013. On Tuesday, FB released this new-data in a report.

This is a definite indication that the company is now the preferred platform for the government to retrieve online-user data. These 11,000 requests for FB data are more than the number that was requested in the latter half of 2012 and is more than what has been requested from GOOG.

Range of requests

As far as company responses to subpoenas from the government goes, FB has reported that it has fulfilled 79% of the 2013 data requests while GOOG had reported that it had fulfilled 88%. Buzzfeed has discussed some possible reasons for these FB data requests and said that the company had not revealed what they exactly were. They could range from criminal investigations to any other security-related requests. The nature of the request is dependent on where it has originated from. What could be considered to be “criminal request” in a certain country might fall in the category of a “human-rights violation” request in another.

This report comes on the heels of the NSAP (National Security Prism) scandal. Silicon Valley tech-companies had been implicated in the broad government collection of user-data. Since then, a large number of companies have publicly challenged the U.S government policy on data-mining.

Trading stats

In Tuesday’s trading session, FB stock dropped 4.11%. The opening price of the shares was $40.68 which touched an intraday high of $41.20 and closed at $39.64. More than 0.132 million shares were traded in Tuesday’s session and the average volume of shares traded over 30 days was 76.86 million. The company has a market cap of $96.54 billion.

About Lynn Eisler

Lynn Eisler is a national news reporter focusing on economic issues, data analysis and the financial health of state and local governments. Lynn has been honored with the H.L. Mencken Award for Investigative Reporting, the Champion of Justice Award for reporting on the drug war, and the John Hancock Award for business reporting. Lynn was also a Knight Medical School Fellow at the University of Michigan.

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