Facebook Inc (NASDAQ:FB) may finally be able to close the books on a long-running lawsuit in which they were accused of major privacy violations corresponding to their Sponsored Stories initiative. Reuters reported that United States District Judge Richard Seeborg was “much less critical” of Facebook’s revised proposal and said that he would issue a ruling “very shortly.” This past August, Judge Seeborg rejected Facebook’s original settlement offer. The suit, which revolved around Facebook’s use of users’ likenesses in Sponsored Stories, was settled out of court by Facebook and the handful of California plaintiffs who originally began the suit. Facebook agreed to pay a $10 million settlement to charity with an additional $10 million going to any extra legal fees. As a part of that settlement, Facebook will let users control their past activities and how they appear in Sponsored Stories.
Intel Corporation (NASDAQ:INTC) has announced that their President and Chief Executive Officer, Paul Otellini, has decided to retire. There will be an orderly leadership transition over the next six months. The board of directors will choose Otellini’s successor and they will consider internal and external candidates for the job. In addition, the company also announced that the board has approved the promotion of three senior leaders to the position Of Executive Vice President and they are: Renee James, Head of Intel’s Software Business; Brian Krzanich, Chief Operations Officer and Head of Worldwide Manufacturing; and Stacy Smith, Chief Financial Officer and Director of Corporate Strategy.
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Sirius XM Radio Inc (NASDAQ:SIRI): In the last three months, Sirius XM Radio Inc. officials have purchased $293.81 million in shares.
Research In Motion Limited’s (NASDAQ:RIMM) Chief Executive Officer, Thorsten Heins, is a man on a mission — he wants to sell the Blackberry 10. Heins is working to persuade not only wireless network operators but also businesses, developers and consumers that BlackBerry 10, the company’s latest next-generation smartphone platform, is worth a look. One of the competitive obstacles BB10 will face at launch is the availability of applications. Historically, brand new smartphone platforms have had few apps for consumers to download on the first day. The iTunes App Store, for example, had just 500 apps when they began back in July 2008. Now, they have more than 600,000. So does the Google Play Store for Android devices. Microsoft’s Windows Phone Store has more than 125,000 apps.
Nokia Corporation (NYSE:NOK): According to Bloomberg, after the company said that they have received reports that their new Lumia 920 smartphone had sold out in Germany, shares of Nokia Corporation have increased as much as 5.5%, the most in a month.
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