Many users sighed a sigh of relief at that statement, but it was definitely too soon.
For one, the company is now legally allowed to "share information, including personally identifying information, with our Affiliates (companies that are part of our corporate groups of companies, including but not limited to Facebook) to help provide, understand, and improve our Services."
Not only that - they may share users' information, including their PII, with "service providers or other partners that work on our behalf to support our business," "with third parties when we have a good faith belief that it is necessary to" (law enforcement), and transfer users' PII to one or more third parties that might buy the company in the future.
Jonah Comstock over at MobiHealthNews has a bit more about the additional changes to the policy. If you are a Moves user, check it out and see if you are still ready to share your data with the app.