Twitter said on Monday that it could be fined between $150 million and $250 million for using customer phone numbers and email addresses for targeted advertising.
In an SEC filing, Twitter said the Federal Trade Commission sent it a complaint on July 28 regarding its use of data “provided for safety and security purposes for targeted advertising during periods between 2013 and 2019.”
The alleged violations relate to “the Company’s 2011 consent order with the FTC and the FTC Act.” The consent order required Twitter to maintain a comprehensive security program while barring it from misleading consumers about its security and privacy practices.
Twitter has already recorded an accrual of $150 million on account of the “probable loss,” while noting that “The matter remains unresolved, and there can be no assurance as to the timing or the terms of any final outcome.”
Twitter also noted that…
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