FTC probes Twitter over ad targeting practices

The US Federal Trade Commission is probing Twitter Inc for alleged violations of a law that prevents the social network from using personal data provided for security purposes to target ads, the company disclosed on Monday.

In a regulatory filing, Twitter said it received a draft FTC complaint alleging violations between 2013 and 2019.

Twitter said it estimates probable loss of between $150 million and $250 million in settlement charges, and has already recorded $150 million of that estimate in accrual related to the allegations.