(Mar 21): Facebook Inc.’s failure to safeguard privacy was blamed in an investor lawsuit for a slump in its share price that followed the revelation user data was harvested without permission by a research firm connected to US President Donald Trump.

The world’s largest social media network was sued in San Francisco federal court on Tuesday by shareholders in a class action who said they suffered losses after the disclosure that Cambridge Analytica, a UK-based firm that aided Trump, improperly obtained profile information on 50 million users.

See: The data analytics firm that helped Trump to power claims to have operated in Malaysia

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