Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Google Invades Privacy: Google Set to Pay $7 Million Fine in Wi-Fi Case

Google Invades Privacy: There is no denying the fact that Google Inc (NASDAQ:GOOG) has been hit with quite a few fines over the years. No matter how hard companies of this size try, there are going to be times when fines are simply part of the business.

Google Inc (GOOG)Google Inc (NASDAQ:GOOG) is one of the hedge fund industry’s most popular stock picks, but it’s been displaced by a financial stock recently (see which one here).

According to a report by Fox News, “Google will pay a $7 million fine to settle a multistate investigation into a snoopy software program that enabled the Internet search leader to intercept emails, passwords and other sensitive information sent several years ago over unprotected wireless networks in neighborhoods across the world.”

While $7 million may not be a lot of money to Google Inc (NASDAQ:GOOG), the bigger problem here is the lack of concern for the privacy of others. This is what has so many people upset, and is why the company is being hit with such a large fine.

Even more so, 38 states, as well as the District of Columbia, were part of the effected areas.

Here is some more information from the same article, touching on the states that will receive a payout:

“Connecticut, the lead state in the Wi-Fi investigation, will get the largest cut from the fine — nearly $521,000. Other states getting a share are: Alaska, Arizona, Arkansas, California, Colorado, Delaware Florida, Hawaii, Illinois, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Mississippi, Missouri, Montana, Nebraska, Nevada, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Rhode Island, South Carolina, Tennessee, Texas, Vermont, Virginia and Washington.”

With all this in mind, you may be wondering what Google Inc (NASDAQ:GOOG) has to say. Unfortunately for those who want more information, the company has only issued the following statement:

“We work hard to get privacy right at Google. But in this case we didn’t, which is why we quickly tightened up our systems to address the issue.”

In today’s day and age, privacy concerns are a big deal. It is obvious that Google missed the spot with this one. Hopefully the $7 million fine will teach the company a lesson.

Check back here for more updates on Google Invades Privacy.

DISCLOSURE: I have no positions in any stock mentioned.

For more news stories, visit the following pages:

Are America’s Tech Companies Good Investments?

A China-Google Cold War Intensifying?

Samsung’s KNOX to Improve Android Security?

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!