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UPDATE 1-Facebook executive meeting with lawmakers ahead of FTC settlement

(Adds detail on meeting, issue)

WASHINGTON, May 7 (Reuters) - Facebook Chief Operating Officer Sheryl Sandberg was meeting with U.S. lawmakers on Capitol Hill on Tuesday ahead of an expected settlement with the Federal Trade Commission, a spokesman for Senator Jerry Moran said.

Sandberg was expected to meet with Moran on Tuesday amid reports that the social media giant will soon settle an investigation of revelations that Facebook inappropriately shared information belonging to 87 million users with the now-defunct British political consulting firm Cambridge Analytica.

Facebook said last month the settlement could cost between $3 billion and $5 billion.

Moran is also one of six senators on a working group to draft a bill aimed at setting standards for online privacy for consumers.

Facebook did not immediately comment on Sandberg's meetings. (Reporting by David Shepardson; Editing by Steve Orlofsky and Dan Grebler)