Boston, MA 02/19/2014 (wallstreetpr) – Facebook Inc (NASDAQ:FB) has found itself in hot water with German authorities, having been asked by a court in Berlin to comply with German data laws or face legal actions. The ruling was a contradiction, considering an earlier ruling on the matter had been given by another court.
The court had ruled in 2012 that Facebook had to comply with Irish protection laws and not the German protection laws. This was because Facebook Inc. (NASDAQ:FB) processed its German User data at their headquarters in Ireland.
The higher court of Berlin on a reversal concluded that Facebook German user’s data is actually being processed in the US by its parent company. The new verdict was based on the fact, that Facebook US is outside Europe, thus should be subject to German protection laws. It is now unclear which verdict will be implemented considering the two courts are considered equal. Facebook has a month to appeal the recent ruling.
Facebook game publisher King files for an IPO
The most successful game publisher in Facebook message board platform King digital entertainment has filed for an initial public offering. King intends to enlist in the New York Stock Exchange under the ticker name KING. The company has not confirmed at what share price they will be offering the initial public offering.
The US army to spy on Facebook
Facebook Inc. (NASDAQ:FB) got hit by another bombshell concerning the privacy of its users, with revelation the American Special forces has recruited social media experts to try and collect info on certain individuals in Europe. It is not, only Facebook users who will be spied on, but also Twitter. It is being reported the US army has started a top secret program to sift through the social media data across Europe. This is as a result of concerns that Terrorist operating in Europe are planning to strike the US.
Facebook Inc. (NASDAQ:FB) closed Tuesday trading session at stable levels with its shares moving up by 0.31% to close the day at $67.30 a share
