Facebook users in the United States who have used the platform at any point over the past 16 years have the opportunity to claim a portion of a $725 million settlement money offered by Meta, the parent company of Facebook.
The settlement money is related to privacy violations and users have until August 25 to submit their claims
However, there are two approaching deadlines to consider. Additionally, individuals may file an objection to the settlement money on or before the same date. Opting out allows users to retain their right to pursue a separate legal action against Facebook.
The settlement money arose from a series of lawsuits where Facebook users accused the company of sharing their information improperly with third-party sources, including advertisers and data brokers. The legal actions were sparked by a privacy scandal in 2018 involving Cambridge Analytica, which misused user data for profiling voters.
According to the class-action website set up to disburse the settlement money, Meta denies any liability or wrongdoing in the matter. The settlement money allows U.S. residents who used Facebook between May 24, 2007, and December 22, 2022, to file a monetary claim before August 23, 2023.
To make a claim, users need to provide basic information such as their name, address, email, phone number, and details about their Facebook usage during the specified period
The claim process can be completed on Facebook’s website or by mailing the required information to a designated address.
The settlement money amount per user will depend on the number of claims filed, with attorneys involved potentially receiving up to 25% of the settlement money as fees. As a result, the final settlement money amount for claimants could be reduced to $543.7 million.
Users who had an “activated” Facebook account during the stipulated time frame will receive one point for each month of account activity. The total points assigned to all claimants will determine the individual settlement amount, which will be distributed after the court’s final approval hearing on September 7, pending any appeals.
Those who opt out or file an objection to the settlement money will not be eligible for a payout and will retain the right to take further legal action against Facebook. The settlement money does not include users outside the U.S. or those who were not Facebook users between May 24, 2007, and December 22, 2022.
Facebook users interested in claiming their share of the settlement money should act promptly to meet the respective deadlines and ensure they receive their rightful compensation.
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