Facebook users have until the end of next month to sign up and receive a portion of Meta's $725 million settlement for privacy violations. This settlement was reached in December 2022 as a response to a class action lawsuit filed by the Keller Rohrback law firm. The lawsuit accused Facebook of sharing users' data with Cambridge Analytica, a data consultancy firm that was used by Donald Trump's 2016 presidential campaign.
The total cost of the settlement for Meta is substantial, with nearly $5.9 billion to be paid to the Federal Trade Commission and $100 million to the Securities and Exchange Commission. The remaining $725 million will be distributed to individuals who held a Facebook account between May 2007 and December 2022. The exact amount each person will receive depends on the number of eligible claimants and the duration of their active Facebook account. Those with accounts dating back to the beginning of Facebook's existence will receive a larger share.
Initially, only currently active account holders were eligible to file a claim, but the parameters were expanded in May to include accounts that have since been deleted.
Meta has not admitted to any wrongdoing as part of the settlement. They maintained that the data shared with Cambridge Analytica was obtained legally by psychology professor Aleksandr Kogan, who allegedly misrepresented his intentions for using the data. Kogan then transferred the information to third parties, including Cambridge Analytica, violating Facebook's policies.
In response to the allegations, Facebook CEO Mark Zuckerberg issued an apology in 2018 for not taking adequate action to protect users' data at the time.
To claim a portion of the settlement, eligible Facebook users need to visit the specified website and fill out the form before the deadline of August 25. A final approval hearing is scheduled for September 7, 2023, at 12 p.m. EST, during which the court will determine whether the settlement is reasonable, fair, and equitable, and decide whether to approve it.
