The Federal Trade Commission voted to approve a settlement of about $5 billion with
for its probe into the company’s privacy practices, according to a report in The Wall Street Journal.
The newspaper cited people familiar with the matter. It said the settlement, which is expected to include some restrictions on how Facebook (ticker: FB) handles privacy issues, is subject to approval by the Justice Department.
The FTC and Facebook declined to comment about the Journal’s report.
In April, Facebook estimated a probable loss range of $3 billion to $5 billion for the FTC inquiry into how it handles users’ data.
Last year, the FTC opened an investigation of Facebook’s data-privacy practices following the Cambridge Analytica scandal.
Facebook stock closed up 1.8% to $204.87 on Friday.
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