Facebook Misreported and Delayed Revelation of Ad Data, Lawsuit Says
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An updated lawsuit filed last Tuesday revealed that Facebook knew that it provided inaccurate data on its ad viewership in 2015, but delayed its disclosure for more than a year.
While Facebook said that it had overestimated ad viewing time averages by 60 to 80 percent, the complaint says that the actual miscalculation went up to 150 to 900 percent.
However, instead of immediately correcting the metrics and informing advertisers in January 2015, Facebook saw that a 40% drop will be too significant and might hurt user trust.
The firm says that it only learned about the issue in August 2016 and fixed it before making a public statement.
Source: CNBC