Facebook privacy settlement approved, Netflix CEO buys FB shares, and more on this week's news roundup

Facebook privacy settlement finalized – The U.S. Federal Trade Commission said today that Facebook finalized its settlement related to charges that it deceived users when it changed their privacy settings in 2009. The settlement requires the social network to give users notice and allow them to opt in to sharing information beyond their current privacy settings. Facebook agreed to the settlement in November, but there was a public comment period until now. Facebook will also be required to maintain a new privacy program, and have third-party audits every two years for the next 20 years.

Netflix CEO buys $1M in Facebook stock – Netflix CEO Reed Hastings, who also sits on Facebook’s board, bought 47,846 shares of the social network’s stock last week at an average price of $21.03.

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