Is Facebook Settling With You For $725 Million In Data Privacy?

(CTN News) – There is less than a week left until any Facebook user in the United States can file for a payment in relation to a data privacy settlement case, which may result in a payment of up to $37.40 to each user.

Earlier this month, Facebook’s parent company, Meta, agreed to pay $725 million to settle a number of class action lawsuits alleging that Facebook allows third parties access to their users’ private data and the private data of their friends without the consent of the users.

It is estimated that roughly 70 million US-based Facebook users’ private data was accessed by Cambridge Analytica in 2016, a political consulting firm that was working on the Trump campaign during the presidential election.

You might have been able to find everything from birthdays and hometowns to much more personal information, such as private messages, in that private information.

In case you are considering bringing a claim in the case, here is what you need to know:

Is there anyone who can file a claim?

In order to be eligible to file a claim, a Facebook user must have been active between May 24, 2007 and December 22, 2022, in the United States.

Can you tell me what the deadline is?

The eligible users are required to submit their claims in writing by filling out a form provided by Meta on their website by 11:59 pm on Friday, August 25 if they are filing online. Users who wish to file by mail will need to postmark their envelopes by August 25 in order to be considered for the filing deadline.

Is there a method of payment that I can use?

It is important to note that the payment method depends on three factors:

• The number of valid claims that have been filed.

• During the period of May 24, 2007 to December 22, 2022, there was a lot of activity on Facebook.

• After subtracting administrative, legal, and other costs from the total settlement fund, we arrive at the net settlement fund.

In an oversimplified example, if the net settlement amount is $100 and the total number of points for all claimants adds up to 500, you would be paid 20 cents ($100/500) for every month between May 2007 and December 2022 that you had an open account.

As an example, if you activated your account for 52 months, you would receive $10.40 (20 cents x 52 months = $10.40). There would be a payment of $37.40 if it was activated for all 187 months of that period.

When will users be paid?

As of right now, it is not clear.

It is expected that once everyone’s claims have been submitted, a final approval hearing will be held for the settlement of the case. The Facebook user privacy settlement website states that the hearing will take place on September 7, 2013 at 1 pm PT.

SEE ALSO:

OpenAI Acquires Innovative AI Startup Global Illumination For Creative Advancements