Attention Facebook users, your window of opportunity is closing, with just one month remaining to register for a share of Meta’s massive $725 million settlement, a consequence of privacy violations.
The settlement, inked in December 2022, was the result of a class action lawsuit brought forth by the esteemed Keller Rohrback law firm.
The lawsuit accused Meta, previously known as Facebook, of divulging user data to Cambridge Analytics, a data consultancy firm that played a role in Donald Trump’s 2016 presidential campaign.
The financial repercussions for Meta were staggering, with a hefty $5.9 billion to be paid to the Federal Trade Commission, another $100 million to the Securities and Exchange Commission, and the remaining $725 million allocated to anyone who held a Facebook account between May 2007 and December 2022. The exact payout for each individual will depend on the number of eligible Facebook users who sign up under the settlement terms.
The payment amount for each person hinges on two factors: the number of users who submit their information and the length of time each individual’s account remained active. This calculation entails awarding individuals one “point” for each month their account was activated, meaning long-time Facebook users will receive a more substantial portion of the settlement.
In a significant expansion of the initial settlement, users who had previously deleted their accounts are now eligible to file a claim, broadening the scope of those who may receive compensation.
Notably, Meta has not admitted any wrongdoing as part of the settlement. Instead, the accusation revolves around Cambridge Analytica’s involvement in sharing Facebook’s data with third parties.
Meta contends that the data had been legally obtained by Aleksandr Kogan, a psychology professor, who allegedly stated that the information was for academic purposes.
However, Kogan subsequently transferred the data to third parties, including Cambridge Analytica, thereby violating Facebook’s policies.
Addressing the allegations head-on, CEO Mark Zuckerberg expressed remorse for the company’s failure to safeguard user data in 2018. He conveyed his apologies through full-page ads published in various newspapers, vowing to take concrete measures to prevent such occurrences in the future.
To partake in the settlement, visit the designated website and complete the required form. Remember that the deadline to file a claim is August 25, so act promptly to secure your chance at compensation.
A final approval hearing is slated for September 7, 2023, at 12 p.m. EST. During this hearing, the court will meticulously assess the reasonableness, fairness, and equity of the settlement before granting its approval.
Don’t miss this chance to claim what is rightfully yours. Seize the opportunity and ensure that justice is served in this landmark settlement with Meta. Act now and secure your piece of the settlement pie.