Racine said Zuckerberg's site led users down a risky path by giving the company access to their personal information without authorization.
"Facebook's lax oversight and confusing privacy settings put the information of millions of consumers at risk", he told reporters on Wednesday.
"We're seeking to hold Facebook accountable for jeopardizing and exposing the personal information of tens of millions of its users", Racine said.
A look at Facebook CEO Mark Zuckerberg's first day of testifying in front of the U.S. Senate about the Cambridge Analytica scandal where the information of roughly 87 million Facebook users' information was harvested.
Facebook already has been buried in an avalanche of other lawsuits filed in federal and state courts, as well as regulatory investigations in both US and Europe into whether the company has violated laws by repeatedly allowing unauthorized access to the personal information of the almost 2.3 billion people on its private network.
Facebook's head of developer platforms and programs, Konstantinos Papamiltiadis, said in a blog post that the Times report referred to partnerships that enabled "social experiences - like seeing recommendations from their Facebook friends - on other popular apps and websites".
The attorney general of the District of Columbia has sued (PDF) Facebook, alleging violations of local consumer protection laws.
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Facebook is being sued by the DC attorney general over allegations it failed to safeguard the personal data of its users. The FTC is also probing whether Facebook's relationship with Cambridge Analytica - and its handling of users' data - violated a 2011 agreement brokered by the agency that required the tech giant to improve its privacy practices.
Lawsuits of this type take years, however, if Facebook is found guilty, the penalties will be massive.
Context: Zuckerberg's drop in net worth is because of multiple scandals plaguing his company, Facebook.
After the revelations about Cambridge Analytica, congressional hearings were held and Facebook changed what sort of data it lets outside developers access.
Privacy settings on Facebook to control what friends on the network could see and what data could be accessed by apps were also deceiving, Ms Racine said. In addition to threatening Facebook's reputation, the suit could potentially cost the company billions.
On July 25, Facebook's stock price plummeted more than 20% after the company revealed disappointing second-quarter earnings.