Facebook roundup: stock price, lawsuits, third-party platform news and more

Facebook stock back below $20 – Facebook shares closed this week at $19.52, down more than 6 percent since Monday. The stock fell below $20 on Wednesday and did not recover. On Tuesday, the company announced it will report Q3 earnings after trading closes on Oct. 23. Earlier this week BTG Media downgraded Facebook from a “Neutral” rating to “Sell” with a $16 price target.

Facebook says tracking lawsuit isn’t specific enough – Facebook attorney Matthew Brown told a judge last Friday that a $15 billion lawsuit alleging that the company secretly tracks users’ off-Facebook activity should be dismissed because the plaintiffs didn’t specify how they were harmed. According to Bloomberg, he says the plaintiffs haven’t identified what kind of data or information was collected about them or whether Facebook used it in anyway or shared it with any other parties.

Facebook proposes new Sponsored Stories settlement – Facebook has revised its proposed $20 million settlement of a case regarding Sponsored Stories after a judge rejected the company’s first plan, Reuters reports. The new agreement would allot $10 million to cover lawyer fees for the plaintiffs and allow users to apply for a cash payment up to $10 each, addressing the judge’s concern that the settlement previously include cash for users. The original proposal set aside money for charity instead. If the new settlement is approved, any money that is left over after users’ claims and other expenses will go to charity.

Lithium Technologies acquires Social Dynamx – Social CRM company Lithium Technologies announced its acquisition of another social CRM application Social Dynamx. Lithium will combine its offering with that of Social Dynamx, available immediately as Lithium Social Web. Terms of the deal were not disclosed. Lithium previously acquired brand tracking application Scout Labs.

Facebook tests more visual login page – Facebook is testing a number of new designs for its login page, some including photos or illustrations that stretch across the length and width of the browser. According to images shared with TechCrunch, the new designs include the call to action, “Connect and share with the people in your life,” and moves the sign-in more to the center of the browser rather than the top right corner.

Facebook wanted to acquire Sparrow team – Facebook was reportedly in talks to acquire Sparrow, the email client for Mac OS X and iOS that ultimately sold to Google in August. FrenchWeb and TheNextWeb have sources that say Facebook was interested in Sparrow first, but when the deal stalled, Google was able to woo the team over to its Gmail product. It’s unclear whether Facebook wanted the team to work on its messages product or was generally impressed by its design talent.

Thismoment updates marketing platform – Social brand marketing company Thismoment released an updated version of its platform, Distributed Engagement Channel 4. DEC 4 helps brand marketers create, distribute and measure dynamic interactive brand experiences across multiple sites and devices. It includes support for Facebook Timeline and Open Graph, in addition to other platform features like Twitter Cards. More new features are explained here.

Facebook, Google, Adobe and others partner to help developers – Facebook this week announced its participation in the Web Platform Docs alpha release, along with Adobe, Google, HP, Microsoft, Mozilla, Nokia, Opera and the W3C. The partnership aims to build a single place on the web for developers to find the information they need to be successful at building apps and websites. The docs on WebPlatform.org are aimed at developers of all levels, spanning a range of topics from how the Internet works to best practices for approaching accessibility. Facebook has donated many of the documents on this HTML5 Resource Center to WebPlatform.org.

Publish date: October 12, 2012 https://stage.adweek.com/digital/facebook-roundup-stock-price-lawsuits-third-party-platform-news-and-more/ © 2020 Adweek, LLC. - All Rights Reserved and NOT FOR REPRINT