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Facebook shares fell to new lows Thursday, dropping four per cent to close at $20.04 US on the Nasdaq as the company revealed that as many as 83 million accounts on its social networking website might be false or duplicate user profiles.

The company said in a regulatory filing this week that 8.7 per cent of its 955 million monthly active users may be duplicate or false accounts. In May, it estimated that five to six per cent were such accounts.

Insufficient excuse for the dropping share price. I mean, who hasn’t got a pet with her own FB account?