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Without providing specifics, the FTC said the Google fine represents several times more than what Google made from the targeted ads that it distributed through Safari.

Consumer Watchdog, a California group that has emerged among Google’s most strident critics, said it may challenge the settlement unless Google admits it broke the privacy promise made with the Buzz settlement.

“The commission has allowed Google to buy its way out of trouble for an amount that probably is less than the company spends on lunches for its employees and with no admission it did anything wrong,” Consumer Watchdog complained.

News of the FTC’s fine didn’t faze investors as Google shares added 12 cents to close Thursday at $642.35. Although it was modest, the gain was still enough to boost Google’s market value by about $39 million, nearly twice the amount of the fine.