In a significant legal development, Meta Platforms, the parent company of Facebook, has agreed to a $725 million settlement. This stems from a lawsuit alleging the company improperly shared users’ personal data, notably during the Cambridge Analytica scandal. Here’s everything you need to know about the settlement, eligibility criteria, and what to expect.
Are You Eligible for a Payout?
If you had a Facebook account in the United States anytime between May 24, 2007, and December 22, 2022, you could qualify to receive a portion of the settlement. The eligibility extends to both current and former users.
How Did the Application Work?
The claims process required eligible users to submit an online form by the deadline of August 25, 2023. Applicants had to provide basic information, such as their contact details and proof of account activity during the eligibility window. Payment options included direct deposit, PayPal, or prepaid gift cards.
How Much Will You Get?
The payout amount varies based on two factors:
- The total number of valid claims submitted.
- How long you were an active Facebook user during the covered period.
While some estimates suggest an average payout of $30, individuals with longer account activity could receive slightly more.
When Will You Receive Payment?
Despite the settlement’s final approval on October 10, 2023, payment distribution has been delayed due to ongoing appeals. Experts predict the appeals process will conclude by mid-2024, with payments potentially rolling out by late 2024 or early 2025.
Why This Matters
This settlement highlights the importance of digital privacy and serves as a wake-up call for tech companies to prioritize user data security. It’s a reminder to regularly review privacy settings and stay vigilant about what information you share online.
Stay Updated
To stay informed, visit the official settlement website for updates and ensure your contact information is accurate to avoid missing your payment.
