US citizens can claim compensation from $725m Facebook settlement fund
World+Biz
Facebook users from the US can now claim their portion of the $725 million privacy case settlement, Reports BBC.
One of the highest-profile data-privacy scandals, dating back to 2018, alleged that Facebook shared 87 million users' data without consent with third parties such as Cambridge Analytica.
Facebook's parent company Meta denied any wrongdoing but agreed to the settlement.
Anyone who used Facebook in the US between 24 May 2007 to 22 December 2022 can claim - "in the range of 250-280 million" people, according to the ruling document.
People who qualify for the settlement will be awarded points based on each month they had an account during the "class period," and the total settlement amount will be divided by the total number of points to determine compensation.
"On one level, $725m is a huge amount of cash - but Meta is such a large company that this figure represents less than three days of its revenue," said Technology author James Ball to the BBC.
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