Lawsuit accuses Facebook, Inc. (NASDAQ:FB) ad targeting of abetting bias
A lawsuit filed on Thursday accuses Facebook of letting ad targeting tools be used to exclude women and older people from offers regarding loans, investments and other financial services.
Two law firms have filed a discrimination suit in San Francisco federal court on behalf of a 54-year-old woman living in Washington and will ask a judge to grant the case class-action status.
“Women and older persons are entitled to full and equal services of businesses such as Facebook, and the financial services companies that advertise on Facebook’s platform,” attorney Matthew Handley said in a statement.
“Purposeful targeting of advertisements away from these members of our community unlawfully denies them these guarantees.”
The suit contends that women and older people were denied the benefits of ads for financial services because Facebook tools allow messages to be targeted at specific age ranges or genders.
Facebook said it is reviewing the complaint.
“We’ve made significant changes to how housing, employment and credit opportunities are run on Facebook and continue to work on ways to prevent potential misuse,” a spokeswoman for the leading social network told AFP.
“Our policies have long prohibited discrimination and we’re proud of the strides we’re making in this area.”
Facebook announced earlier this year that it was revamping how it uses targeted advertising in a settlement with activist groups alleging it discriminated in messages on jobs, housing, credit and other services.
Under those changes, housing, employment or credit ads would no longer be allowed to target by age, gender or zip code — a practice critics argued had led to discrimination.
In the settlement, Facebook agreed to take “far-reaching measures to stop advertisers from using age, gender, and other protected traits to target job, housing, and credit ads,” according to the law firms involved in the new suit.
“Today’s lawsuit alleges that Facebook has not taken any action to stop advertisers from excluding older persons and women from getting financial services ads on Facebook, other than in the limited area of credit ads,” the law firms said.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 200.27.
The projected lower bound is: 183.36.
The projected closing price is: 191.81.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 24 white candles and 26 black candles for a net of 2 black candles.
Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 58.1004. This is not an overbought or oversold reading. The last signal was a sell 9 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 59.40. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 77 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 180.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 1 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 16 period(s) ago.
Rex Takasugi – TD Profile
FACEBOOK INC A closed up 3.400 at 191.650. Volume was 196% above average (trending) and Bollinger Bands were 17% narrower than normal.
Open High Low Close Volume___
196.700 198.090 188.250 191.650 42,286,528
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 187.70 184.60 180.29
Volatility: 36 29 35
Volume: 17,550,908 13,586,493 16,586,190
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
FACEBOOK INC A is currently 6.3% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume into FB.O (mildly bullish). Our trend forecasting oscillators are currently bullish on FB.O and have had this outlook for the last 11 periods. The security price has set a new 14-period high while our momentum oscillator has not. This is a bearish divergence.