Facebook Users Can Now Claim Their Share Of The Historic $725 Million Data Privacy Settlement

Facebook Users Can Now Claim Their Share Of The Historic $725 Million Data Privacy Settlement

Being an OG social media user may come with a few perks. Facebook’s parent company Meta agreed to pay $725 million to settle a high-profile privacy lawsuit last year, and now Facebook users who were active between 2007 and 2022 can claim their share.

With the launch of a new website, Meta is making it easy for users to receive their apologies straight to their bank accounts via Zelle, PayPal, Venmo, and ACH transfer. The historic settlement comes after a class action lawsuit was filed against the company after it disclosed that it shared the information of 87 million users to consultancy firm Cambridge Analytica, which was linked to Donald Trump’s 2016 presidential campaign, without consent, according to Complex. The firm was granted access to users’ personal information and Facebook was accused of failing to “adequately monitor” the usage. A law firm representing the plaintiffs in the case says it is the “largest recovery ever achieved in a data privacy class action and the most Facebook has ever paid to resolve a private class action.”

Facebook application icon on Apple iPhone 13 Pro, smartphone with login home page facebook logo icon on the screen popular social media network from Meta : Bangkok, Thailand – June 3 2022

It has yet to be determined how much each user stands to gain from the settlement, as the numbers depend on how many people actually pursue their share. However, claims can be submitted until Aug. 25 via the website.

Facebook founder Mark Zuckerberg testified before Congress last year as part of the trial and issued an apology on behalf of his billion-dollar company and promised never to exploit user data again. Meta, however, has yet to admit to having mismanaged personal information saying, “We pursued a settlement as it’s in the best interest of our community and shareholders,” via a statement. With false information being disseminated regularly online to push controversial agendas, it will be fascinating to see if and how social media sites will be held responsible for targeting users based on their interests, demographics, and other privately shared information.