FACEBOOK NEEDS TO GET ITS ACT TOGETHER

NY State Comptroller DiNapoli Statement on Facebook CEO Mark Zuckerberg’s Congressional Testimony New York State Comptroller Thomas P. DiNapoli, trustee of the New York Common Retirement Fund (the Fund), released the following statement in regarding Facebook CEO Mark Zuckerberg’s Senate testimony. The Fund holds shares in Facebook valued at more than $1 billion. "Facebook needs to demonstrate to its customers and its investors that it is taking steps to uphold its terms of service. It needs to show that it has the ability to protect users’ privacy and prevent the proliferation of sexual harassment, hate speech and fake news from its platform. The company has already suffered a drop in value and severe reputational damage and failure to address these concerns will only further jeopardize the company’s reputation and financial well-being. Mr. Zuckerberg and Facebook’s board have an opportunity to show that the company is…

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