NEW YORK (AP) — The Federal Trade Commission is investigating Facebook’s privacy practices following a week of privacy scandals including whether the company engaged in “unfair acts” that cause “substantial injury” to consumers.

Facebook’s stock, which already took a big hit last week, plunged as a result.

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Facebook said in a statement on Monday that the company remains “strongly committed” to protecting people’s information and that it welcomes the opportunity to answer the FTC’s questions.

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News outlets have reported on the FTC investigation last week, but the FTC hadn’t confirmed it until Monday. Facebook reached a settlement with the FTC in 2011 offering privacy assurances.

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