Facebook shares were down more than 7 percent Monday in the wake of damaging reports that Republican campaign operatives obtained data from 50 million users to inform the campaigns of President Donald Trump and other conservative candidates.
Facebook CEO Mark Zuckerberg delivering the keynote at the F8 developer conference.
The New York Times first reported his departure from the company.
Cambridge Analytica was funded primarily by far-right-wing billionaire Robert Mercer, who became an ardent Trump supporter after initially backing Texas Senator Ted Cruz in the 2016 presidential race, according to a profile of Mercer in The New Yorker magazine.
"It is essential that people can have confidence that their personal data will be protected and used in an appropriate way".
Following this report, Zuckerberg is now being asked to provide an explanation by legislators in both the US and the UK, The Washington Post reports.
The federal privacy watchdog says he's concerned about the possibility that the personal information of Facebook users was harvested for political purposes.
In 2015, Facebook became aware that the app was violating Facebook's terms, and in 2016, sent a letter to the people and companies involved demanding that they delete the user data, The New York Times reports.
Facebook shares fell close to 8% in afternoon trading in NY at $171. Perhaps Cambridge Analytica has no role whatsoever in providing guidance or data to Russians seeking to manipulate the USA election.
'Sex and the City' star joins NY governor race
On the Republican side, Dutchess County Executive Marc Molinaro and state Senator John DeFrancisco both plan runs. Incumbent Cuomo is " overwhelmingly favored " over Nixon by Democrats, according to a Siena College poll .
Snow likely in Philly area from pair of coastal storms
Winds will peak on Wednesday , with gusts to 40+ miles per hour across interior NJ and 50+ miles per hour along the coast. The snow's weight will likely mean more trees and power lines falling, causing outages throughout the area, Simpson said.
US media report: ISI still providing covert support to Taliban
It said the attack destroyed two foreign vehicles and killed between six and 10 people, but it denied any Afghan civilians were killed.
The social networking website collects data of its billions of users. There need to be lots of different ways that Facebook and other networks work with the scientific community to help us all understand how social media is affecting our democracy, our businesses, and our public health. Wait two weeks after that, and then, at long last, Facebook will begin the 90 day process of deleting all your data from the site.
"If this data still exists, it would be a grave violation of Facebook's policies and an unacceptable violation of trust and the commitments these groups made".
Facebook makes it easy for advertisers to target users based on nuanced information about them.
Cambridge denies keeping data from Kogan's work.
Jennifer Grygiel, a Syracuse University professor who studies social media, said the disclosures will increase pressure to regulate Facebook and other social media firms.
Alphabet, Google's parent company, lost nearly 3 percent and Microsoft fell nearly 2 percent.
The report, which The Washington Post has not independently confirmed, relied on surreptitious video recordings of Alexander Nix, the chief executive of Cambridge Analytica, claiming to have used "a web of shadowy front companies" in pursuit of winning elections. He said the firm identified voters who might be swayed and targeted them with messages that may or may not be true.
"We just put information into the bloodstream of the internet, and then, and then watch it grow, give it a little push every now and again ... like a remote control".
At the time, the idea was viewed as too invasive and raised concerns with the Liberals, who declined to have anything to do with it, said the insider: Wylie's recommended data-collection approach spooked party officials to the point that it became an significant factor behind their decision not to renew his contract in 2009. Cambridge was hired to help with voter outreach by the Trump campaign, whose former campaign manager, Steve Bannon, had been on its board.