FTC: Myspace misled users about sharing personal information with advertisers
Many may not remember, but back in 2010 there was an investigation from the WSJ which discovered that Myspace was leaking private user data from their web apps on the social networking site. Almost two years later, Myspace has settled with the FTC which says that Myspace misled millions of users, sharing personal information with advertisers.
The same thing happened to Facebook around the same time. The WSJ investigation into Facebook then prompted the FTC to investigate Myspace. Facebook had the same fate as Myspace, where the FTC investigated Facebook and settled in 2011, and now has to be audited against privacy assessments from the FTC for the next 20 years.
Myspace, which at one point was the king of social, is now basically drowning slowly into the inevitable abyss of the Internet never to be heard of again. In the mean time, the FTC will assess them for the next 20 years to see if they break any privacy regulations; that is if they are still around.