FTC probes Twitter over ad targeting practices

[August 04, 2020]  (Reuters) - The U.S. Federal Trade Commission is probing Twitter Inc <TWTR.N> for alleged violations of a law that prevents the social network from using personal data provided for security purposes to target ads, the company disclosed on Monday.

In a regulatory filing, Twitter said it received a draft FTC complaint alleging violations between 2013 and 2019.

Twitter said it estimates probable loss of between $150 million and $250 million in settlement charges, and has already recorded $150 million of that estimate in accrual related to the allegations.

(Reporting by Munsif Vengattil in Bengaluru; Editing by Devika Syamnath)

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