A copy paste campaign on Facebook has people posting a legal notice to prevent Facebook from making all their data publicly available. This is a hoax, and Facebook has reassured users that their data is private, owned by them, and they have control over who can access it. Even if Facebook were to make your data public, posting a legal notice in your timeline is not an effective counter measure against Facebook using your data in any such way. Snopes, a fact checking site that monitors rumours has an extensive page with details on this long lived hoax.
fb-hoax
Facebook has put up a post in the FBfacts section of its site that clearly informs users thatusers are in control of the content they post on Facebook. Facebook has requested users not to believe the information in the copy and paste legal notice. Users can download and check all the information that Facebook holds about them, on their own. Users can track the information and connections being monitored by Facebook in the Activity Log, which is a list of all your posts and activity.
This round of rumours are circulating close on the heels of Facebook agreeing to sign a controversial treaty that allows Facebook to store information obtained from EU citizens on servers elsewhere. Some rumours and hoaxes keep circulating in waves and refuse to die. This particular hoax has been around for over four years.