A Piece of Facebook's $725 Million Privacy Settlement: What You Need to Know

Meta, the parent company of Facebook, has agreed to a substantial $725 million settlement over privacy-related issues. If you were an active Facebook user in the United States between May 2007 and December 2022, you might be entitled to a share of this settlement. Here's everything you need to know:

1. The Background

Last year, Meta agreed to settle a class-action lawsuit, which accused the company of improperly sharing or making user data accessible to third parties like Cambridge Analytica without user permission. This long-running lawsuit followed the 2018 revelations that Cambridge Analytica had accessed private information from millions of Facebook users in the U.S. to build voter profiles for the 2016 election. Meta denies any liability or wrongdoing but has settled the matter.

2. Who is Eligible?

Any Facebook user in the U.S. who had an active account between May 24, 2007, and December 22, 2022, can apply. However, Meta directors and legal representatives are ineligible.

3. How to Apply

Users can enter their personal details on facebookuserprivacysettlement.com to receive payment through various methods like bank accounts and Venmo. Remember, the deadline to apply is August 25, 2023.

4. How Much Will You Receive?

While the payouts are expected to be small, they will depend on the number of valid claims and the duration of Facebook usage during the specified period. Authorized claimants will be assigned one point for each month in which they had an activated Facebook account. The settlement administrator will then add up the total points assigned to all claimants and divide that number by the net settlement amount, $725 million minus administrative costs and other fees, to determine the amount of money available for each point. Each claimant will receive that amount multiplied by the number of points they were assigned, according to the settlement website.

5. Timeline for Approval

The final hearing for the settlement's approval is set for September 7, 2023, at the United States District Court for the Northern District of California.

Conclusion

While the share each user will receive from this privacy settlement is likely to be modest, it's an essential step in holding tech companies accountable for privacy practices. This case reflects the changing landscape of data privacy and emphasizes the importance of transparency and user consent in today's connected world.