Social Media Newsfeed: Sponsored Stories | LinkedIn Win | WordPress HD

Click here to receive the Morning Social Media Newsfeed via email.

Judge Skeptical of Facebook ‘Sponsored Stories’ Privacy Settlement (Wired)
A San Francisco, Calif., federal judge declined Thursday to approve a Facebook privacy settlement concerning the social networking site’s “Sponsored Stories” advertising program, saying he was concerned that the $10 million payout was not adequately explained, and might not be big enough. The deal, which does little to bolster the privacy of Facebook’s approximately 150 million U.S.-based users, provides $10 million to the lawyers who sued the social-networking site and another $10 million to charity, in what is known as a cy pres award. Reuters Facebook and attorneys for the plaintiffs had argued that the settlement — which includes changes to Facebook’s privacy settings — represented roughly $123 million in value. However, the company is only slated to pay about $20 million in cash. Inside Facebook Meanwhile, Facebook appears to be testing Page-Like Sponsored Stories in a mobile module called “Pages You May Like.” With this new module, the social network is showing some users two Sponsored Stories at a time. CNN If you’re using a fake name on your Facebook account, maintaining a personal profile for your beloved pet or have a second profile you use just for logging in to other sites, you have one of the 83.09 million fake accounts Facebook wants to disable. In an updated regulatory filing, the social media company said that 8.7 percent of its 955 million monthly active users worldwide are actually duplicate or false accounts. PC Magazine Facebook said that incidents of duplicate and false accounts are “meaningfully lower” in developed regions like the United States and Australia and higher in developing markets like Indonesia and Turkey. “However, these estimates are based on an internal review of a limited sample of accounts,” Facebook said, so the estimation “may not accurately reflect the actual number of such accounts.”

Another Profitable Quarter for LinkedIn (SocialTimes)
LinkedIn continues its winning streak with the report of a profitable second quarter in 2012. Once again, hiring solutions brought in the most revenue for the professional network, followed by marketing solutions and premium subscriptions. AllThingsD The professional networking company had revenue of $228.2 million, above First Call expectations of $216.3 million, 89 percent higher than last year. Its non-GAAP earnings per share were $0.16, exactly the same as analysts expected. Adweek LinkedIn closed the second quarter with 174 million members, averaging two new members per second and more than 15 percent of those new members signing up through mobile devices, said CEO Jeff Weiner, during the company’s second-quarter earnings call on Thursday. Additionally, he said the company notched 131 million unique visitors in June, and 23 percent of LinkedIn’s uniques come through mobile, he said.

WordPress Launches Retina Support for Gravatar and All Hosted and Self-Hosted WP Sites (TechCrunch)
WordPress’ Matt Mullenweg has announced that the WordPress.com interface and all the blogs hosted on the site are now optimized for high-density displays like the ones found on Apple’s new iPad and Retina MacBook Pro. Through JetPack 1.6, which also launched Thursday, users with self-hosted WordPress sites can also enable the same functionality.

Social Protection App DRM’s Your Facebook Photos (CNET)
Intel and McAfee have collaborated on a new browser plug-in and Facebook app called Social Protection that throws a thicker wall of privacy around your photos, while still allowing you to share them with friends. It sounds great for the privacy-minded, but it won’t be available until the end of August, and then only in public beta.

Cancer Patient Connects With Aetna CEO on Twitter – Who Agrees to Cover Previously Denied Treatment Costs (AllTwitter)
A Stage IV colon cancer patient who was denied coverage after reaching a lifetime limit for charges got this decision reversed on Twitter. This came after tweets by @poop_strong caught the attention of Aetna’s CEO.