Deadline Nears for Facebook’s $725 Million Settlement

Facebook has settled the privacy class action lawsuit for $725m. Facebook users will have four months to file a claim online or via mail before the deadline of August 25, 2023. The lawsuit is based on allegations that Facebook shared personal data with third parties. Cambridge Analytica was the most well-known consulting firm, which supported Donald Trump’s presidential campaign in 2016. The firm collected data from up to 87 million Facebook users. Meta has agreed with the $725 million settlement but denies all wrongdoing.

More specifically, Facebook users who are over 100 million in number are eligible. Anyone who used Facebook in the US from May 24, 2007 to December 22, 2022 is eligible. The company is notifying those who are eligible through notifications on the platform. A final hearing will be held on September 7 after the deadline of August 25. Users won’t receive payments until the hearing is over.

The size of the payout for each individual depends on the number of claims. The size of the payment will be determined by how long you have been a Facebook user. The larger the payment, the longer you have had a Facebook account. Before any money is deposited in your account, the $725 million pot will be reduced by attorneys’ fees and administration costs.