A lawsuit filed by InvestorVillage.com claims that Facebook misleads advertisers about how effective it is, reports West Virginia Public Broadcasting, which added that InvestorVillage, “a site that offers online discussion forums on investing, recently spent around $1,600 on two Facebook ad campaigns. The ads were targeted at people with an interest in the stock market, incomes of at least $250,000 and a college education.

“The ads got a lot of likes, but the company says when it looked closer, at least 40 percent of those likes were from users outside the target audience.

“Facebook sells itself as a platform that can help advertisers reach a target audience. Advertisers can cater their message based on where people live, how much money they earn, and their education levels. This has made Facebook extremely palatable to advertisers, who represent Facebook’s main source of revenue. It has also gotten Facebook into hot water with users over privacy concerns.”

The report also stated: “”Facebook’s advertising pitch is that you can put into the program exactly your target audience,” says Seth Lesser, a lawyer who representing InvestorVillage in the case. “Facebook says, we can get you those such people at 89 percent accuracy.””

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