Facebook Privacy settlement: Payments Are Now Being Distributed – Here’s What You Need to Know
By Rachel Kim, World-Today-News.com – June 3, 2024
If you filed a claim in the recent $725 million Facebook privacy settlement, you may be receiving a payment soon. Distributions have begun, with payouts expected to continue over the next ten weeks.
The settlement stems from a lawsuit alleging Facebook (now Meta Platforms Inc.) improperly shared user data with third parties – including the controversial political consulting firm Cambridge Analytica – and failed to adequately monitor how that data was used.
who is Eligible and How much Will I Receive?
The good news is the eligibility criteria were broadened before the claim deadline. Anyone who used Facebook in the United States between May 24, 2007, and december 22, 2022, was eligible to file a claim, even if their account is now deleted.
The amount each individual receives isn’t fixed. It depends on two key factors: how long you were an active Facebook user during the class period, and the total number of valid claims filed.
Here’s how the calculation works:
* Points System: Claimants are awarded one point for each month they had an active Facebook account within the specified timeframe.
* Net Settlement Fund: After deducting administrative and court costs, a “net settlement fund” is created.
* Individual Payout: your total points are then multiplied by a designated amount determined by the net settlement fund and the total number of claimants.
Important Dates & What to Expect:
The path to payouts wasn’t straightforward. While initial approval came on October 10, 2023, two appeals delayed the process until May 14, 2025, with finalization occurring on May 22, 2024.
If your claim was approved, you will receive an email notification three to four days before a payment is issued.
