The social media giant discovered the emails in the process of responding to a federal privacy investigation, the Journal reported, raising concerns that it would be harmful to the company if they became public. The potential impact of the internal emails was part of the reason the company sought to reach a quick settlement of the investigation by the Federal Trade Commission, the Journal reported, citing one person familiar with the matter.
Facebook shares dropped about 2% on the news. They were trading at $174.61 at 1:37 p.m. on Wednesday in New York. The stock has gained 33% this year.
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