Connect with us

Hi, what are you looking for?

Jewish Business News

Business

$720 Million Facebook Settlement Deadline Nears

Mark Zuckerberg

Mark Zuckerberg (screenshot from Facebook)

People eligible for a share in the Facebook/Meta class action suit $725 million settlement have until August 25, 2023 to make an official filing for their claim. The lawsuit was related to the company collecting personal information from its users and selling it to third parties without their users’ knowledge or permission with the aid of outside firms like the now-defunct political consulting firm Cambridge Analytica.

To be eligible to make a claim a person must have been a U.S. Facebook user at any point between May 24, 2007 and Dec. 22, 2022.

Butanyone who was classified as “directors, officers, legal representatives, alleged co-conspirators, and agents” of Facebook’s parent company Meta are disqualified from inclusion. And so are any people who worked in any way a “legal counsel” to Facebook on the law suit.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.

Facebook reached a settlement agreement in August, 2022, in the lawsuit which was filed as a class action suit on behalf of 87 million Facebook users who maintained that the company sold their personal data to Cambridge Analytica without their permission. But if each and every one of the 87 million people make a claim, that comes to only a little more than $8 per person. Even if only 10 percent makes claims then that would only average out to about $83 per person.

The Cambridge Analytica scandal broke in 2018 when one of the company’s employees revealed to the press what it had done. In 2019 Facebook was fined $5 billion by the Federal Trade Commission for violating its users’ privacy.

This led to the company being forced to declare bankruptcy. Cambridge Analytica was a British political consulting firm.

And what exactly was it that Cambridge Analytica did? It harvested personal data from millions of Facebook users without their consent. The data was then used by Cambridge Analytica to create psychographic profiles of the people whose privacy had been violated.

This was then used for things like political campaigns. For example, a campaign, each profile’s information suggested what type of advertisement would be most effective to persuade individuals on specific issues and political campaigns.

Facebook/Meta never admitted wrongdoing or that it was guilty of any of the charges brought in the class action suit. But the firm does insist it is taking people’s privacy seriously today. Its spokesperson recently said, “Over the last three years we revamped our approach to privacy and implemented a comprehensive privacy program. We look forward to continuing to build services people love and trust with privacy at the forefront.”

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.