HomeNewsFacebook Settles $725 Million Privacy Lawsuit with Meta - Users May Claim...

Facebook Settles $725 Million Privacy Lawsuit with Meta – Users May Claim Cash

Facebook users in the United States who have held an account since May 24, 2007, are now eligible to apply for their share of a $725 million privacy settlement offered by the parent company, Meta. The settlement is a result of a lawsuit accusing the world’s largest social media platform of allowing millions of users’ personal information to be shared with Cambridge Analytica, a firm that supported Donald Trump’s 2016 presidential campaign.

It is still uncertain how much money each user will receive as the settlement will be divided among all valid claimants, meaning the larger the number of people submitting claims, the smaller the individual payment will be. The application process can be completed online or via mail by filling out a form.

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The case stems from revelations in 2018 that Cambridge Analytica had paid a Facebook app developer for access to the personal information of approximately 87 million users of the platform. The information was then utilized to target U.S. voters during the 2016 campaign that resulted in Trump’s election as the 45th President. These revelations led to a contrite Zuckerberg being questioned by U.S. lawmakers and caused people to urge others to delete their Facebook accounts.

Although Facebook’s growth has slowed as more people connect and entertain themselves on competing platforms like TikTok, it still has more than 2 billion users worldwide, including approximately 250 million in the U.S.

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Ricardo Anderson
Ricardo Anderson
Ricardo is someone with whom you can ask and talk about finance and its importance in life. A part-time cook, enthusiast, and football player, he loves to read and write on the latest updates in finance.


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