FTC expected to announce $5B Facebook settlement this week, WSJ reports

The Federal Trade Commission is expected to announce ahead of Facebook's earnings report on Wednesday evening a settlement over the company's privacy practices, Ryan Tracy and Emily Glazer of Wall Street Journal report, citing people familiar with the matter. The settlement includes a roughly $5B fine and would end the agency's probe into whether the company kept its promises around protecting user data, Tracy and Glazer add. Facebook, as part of the settlement, plans to form a new board committee focused on privacy oversight, a source told the Journal. Shares of Facebook are up 2% to $201.62 in afternoon trading. Reference Link