Update – Facebook, Inc. – FB $347.71, Mkt Cap $1.01 T:  Investigative documents received – Maintained on Watch List due to an ongoing, undisclosed SEC probe we’ve been tracking since Sep-2019.

We recently received 152 pages of records from one of the undisclosed SEC investigations we’ve been tracking at Facebook.  Unfortunately, they are little more than heavily redacted emails from an undisclosed 2020 FCPA probe. 

Our research found only one disclosed SEC investigation in the past few years, settled in Jul-2019, wherein the company agreed to pay a penalty of ‎‎$100 million.‎ ‎As a reminder, data we acquired from the SEC points to “More than one investigative proceeding concerning Facebook, Inc." 

From the Facebook, Inc. 10-Q filed on 25-Jul-2019:

In addition, beginning in March 2018, we became subject to U.S. Federal Trade Commission (FTC), Securities and Exchange Commission (SEC), state attorneys general, and other government inquiries in the United States, Europe, and other jurisdictions in connection with our platform and user data practices as well as the misuse of certain data by a developer that shared such data with third parties in violation of our terms and policies. In July 2019, we entered into a settlement and modified consent order to resolve the FTC inquiry, and we also entered into a settlement to resolve the SEC inquiry …

First FOIA response indicating the latest SEC investigation at Facebook was dated 24-Sep-2019.  On-going enforcement proceedings now confirmed on appeal three times since, most recently on 23-Feb-2021.  The timing of SEC responses to us suggests that Facebook management has easily known about multiple SEC investigations in recent years.  For more, see our most recent SEC Investigation Update on Facebook published 25-Apr-2021.