NEW YORK (TheStreet) -- Facebook (FB) is being taken to court by Belgium's privacy commission, which has accused the social networking company of tracking its users and even monitoring the activities of non-Facebook users by means of plug-ins or cookies, Reuters reports.
Shares of Facebook are down by 1.59% to $80.23 in late morning trading on Monday.
The Privacy Commission is also working with German, Dutch, French and Spanish agencies. Last month Belgium accused Facebook of ignoring European privacy laws after attempting to find out more about Facebook's practices.
"We did not get satisfactory answers so this was the next step," a spokeswoman for the Commission for the Protection of Privacy (CPP) told Reuters.
Court will convene on Thursday and the commission has asked for an order that will immediately block Facebook from monitoring non-users, Reuters added. Facebook reportedly said it is "disappointed" that the CPP would agree to meet with the company on Friday, then announce it is taking it to court one day before.
Separately, TheStreet Ratings team rates FACEBOOK INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate FACEBOOK INC (FB) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins, good cash flow from operations and solid stock price performance. We feel its strengths outweigh the fact that the company has had sub par growth in net income."