Sand­berg or­dered Face­book staff to probe critic Soros

Sunday Independent (Ireland) - - News -

÷FACE­BOOK Chief Op­er­at­ing Of­fi­cer Sh­eryl Sand­berg told em­ploy­ees to in­ves­ti­gate fi­nan­cial deal­ings by Ge­orge Soros, pic­tured, the bil­lion­aire who crit­i­cised the com­pany at the World Eco­nomic Fo­rum in Davos in Jan­uary.

Sand­berg wanted to de­ter­mine whether Soros had a fi­nan­cial in­cen­tive to see the com­pany’s share price de­cline, the so­cial net­work­ing gi­ant said. It added it had been look­ing into his hold­ings and trad­ing ac­tiv­ity. “That re­search was al­ready un­der way when Sh­eryl sent an email ask­ing if Soros had shorted Face­book’s stock.” Soros’s fam­ily of­fice, Soros Fund Man­age­ment, sold out of its po­si­tion in Face­book in the third quar­ter, ac­cord­ing to a fil­ing. It had held 159,200 shares in Face­book, as of the prior quar­ter, val­ued at $31m.

Sand­berg has come un­der fire for Face­book’s han­dling of a ris­ing tide of crit­i­cism, much of it re­lated to the spread of dis­in­for­ma­tion across the so­cial net­work. She ini­tially de­nied know­ing that the com­pany had hired pub­lic re­la­tions firm De­fin­ers, which drew links be­tween Soros and some of the com­pany’s crit­ics. Sand­berg later con­ceded that “some of their work was in­cor­po­rated into ma­te­ri­als pre­sented to me and I re­ceived a small num­ber of emails where De­fin­ers was ref­er­enced”.

Newspapers in English

Newspapers from Ireland

© PressReader. All rights reserved.