The social media giant was ordered to pay this sum as part of a privacy settlement, but the release of payments hinges on a judge’s final approval, scheduled for September 7 in San Francisco.
Facebook users eagerly awaiting their share of the $725 million Facebook settlement payment will have to exercise patience as the final approval for the settlement is pending
While it might seem like the Facebook settlement payment lawsuit is nearing its conclusion, there remain critical steps before Meta, Facebook’s parent company, can disburse the payments.
On September 7, a judge will assess whether the Facebook settlement payment represents a fair and reasonable resolution and whether the fees allocated to lawyers as part of the settlement should receive approval.
Even if the Facebook settlement payment gets the green light, potential obstacles may delay the disbursement of payments. Meta could opt to appeal the settlement, potentially extending the wait for Facebook settlement payment recipients for several years.
This class-action lawsuit against Facebook centers on allegations of unauthorized sharing of users’ private information with third parties, including Cambridge Analytica, which accessed data from 87 million Facebook users through questionable data practices.
The eligibility window for receiving a Facebook settlement payment spans from May 24, 2007, to December 22, 2022
For those who successfully applied on time, the estimated Facebook settlement payment hovers around $7. Payment amounts are determined using a points system, with longer-standing accounts receiving more ‘points.’ It’s important to note that the lawyers involved in securing the settlement may claim up to 25% of the total sum, amounting to over $180 million, reducing the available payout for claimants significantly.
As the final approval hearing on September 7 approaches, claimants eagerly await a resolution to their Facebook Settlement Payment claims.
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