Facebook shares slip as UK Parliamentary committee requests Zuckerberg’s presence

Facebook shares are trading a little lower as the UK Parliamentary Committee for Digital, Culture, Media and Sport invited its CEO's to attend a second hearing.

Facebook shares slip as UK Parliamentary committee requests Zuckerberg’s presence

Facebook shares are trading lower Tuesday as the head of a UK Parliamentary Committee has written to Facebook’s head of Public Policy, Rebecca Stimson, to invite the social media platform’s founder and CEO, Mark Zuckerberg to testify before Parliament.

The invitation follows a hearing last week in which Zuckerberg’s chief technical officer gave evidence before the UK’s Digital, Culture, Media and Sport committee. However, there were at least 40 questions during that hearing that weren’t answered at all, or well enough for the lawmakers needs.

By 1610 BST, Facebook shares were 0.32% lower at $171.45. The stock moved strongly higher following better-than-expected Q1 earnings results last week.

Parliamentary Committee’s letter

At last week’s hearing, Facebook’s CTO Mike Schroepfer answered a number of questions concerning the tech firm’s security and data handling policies. The hearing was called following the Cambridge Analytica data handling scandal.

However, MPs were disappointed with the end results of the hearing and felt some questions still needed answering for them to understand exactly how Facebook safeguards its users’ personal data and how the scandal occurred in the first place.

Following that hearing and the Committee has requested further details on 40 questions and also invited Zuckerberg to attend a second hearing in the UK.

“The Committee feels that the evidence lacked many of the important details we needed,” Damian Collins wrote in a letter to the Facebook CEO. “We therefore re-state our invitation to Mark Zuckerberg.”

The letter goes on to suggest Zuckerberg could attend a UK parliamentary hearing during his May trip to Europe, when he is also giving evidence to the European Parliament.

Unsatisfactory answers from Facebook

The second request to Zuckerberg to give evidence before UK parliament also comes as Collins points out that some similar questions that are among the 40 that require more detail are similar to those questions from a recent US hearing that also lacked clarity.

“Mr. Schroepfer failed to answer fully on nearly 40 separate points. This is especially disappointing to the Committee considering that in his testimony to US Congress Mark Zuckerberg also failed to give some convincing answers to some questions,” Collins wrote.

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