NewsletterBreaking: Twitter To Subpoena Sen. Elizabeth Warren In FTC Case
Crypto News: Elon Musk owned popular social media platform, Twitter is reportedly planning to subpoena, U.S. Senator Elizabeth Warren in a case linked to the data breaches. Twitter is facing this crucial legal challenge against the Federal Trade Commission (FTC).
Also Read: Billionaire Novogratz Asks SEC Chair, White House To Act Right
Twitter Asks Court To Terminate Consent Order
The court filings suggest that Twitter reportedly asked the court to terminate the consent order which was served to it last year. This comes after Elon Musk bought Twitter and took a series of actions including thousands of employees and cost cutting. It has raised many questions regarding the social media platform’s resources to comply with the FTC consent order.
Twitter seeks communications between Senator Elizabeth Warren’s office, Elon Musk, and the FTC. It should be noted that Warren is one of the senators who initially asked the Federal Trade Commission to keep a check on Twitter’s operations. However, communication records between the Securities and Exchange Commission (SEC) and Warren also might get called in.
Reuters reported that the FTC and US SEC haven’t replied to the matter. Sen. Elizabeth Warren’s office also hasn’t made any comment. Read More Crypto News Here…
FTC $150 Mln Settlement On Data Breach
The Federal Trade Commission and Twitter come together on a consent decree in 2011. This settlement came in after the micro blogging platform saw two data breaches. However, at that time Twitter agreed to not mislead users over privacy rules.
As per reports, Twitter decided to settle with the FTC in a $150 million settlement deal. The Justice Department was asked to resolve allegations that social media platforms misused the personal details of users to do effective target advertising.
Also Read: UK FCA Launches Digital Sandbox To Support Startups And Businesses
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