Limited Time Left to Claim Share of $725 Million Payout in Facebook Data Sharing Lawsuit Settlement

The clock is ticking for eligible claimants to seize their opportunity for a piece of a $725 million payout reserved for Facebook users in the United States. With just a few days remaining to take action, those who used Facebook within a specific timeframe could potentially qualify for a portion of the settlement. This payment is the result of a lawsuit that alleged Facebook’s parent company, Meta, had shared user data without consent.

The period under consideration stretches from May 24, 2007, to December 22, 2022. Users residing in the U.S. throughout this period may be eligible for compensation. However, the deadline for filing a claim is rapidly approaching, set for this upcoming Friday, August 25.

The lawsuit emerged in the wake of revelations in 2018 regarding the involvement of Cambridge Analytica—a firm linked to former President Donald Trump’s political strategist, Steve Bannon. The company had paid a Facebook app developer for access to personal information from approximately 87 million users. This data was subsequently exploited to target American voters during the 2016 campaign, which culminated in Trump’s victory in the presidential election.

Acknowledging the allegations, Meta reached a settlement agreement in December, explicitly denying any liability or misconduct in the process.

As for the exact amount that individual users might receive from the payout, this remains uncertain. The sum will be contingent on the number of valid claims submitted and the duration of a user’s Facebook presence within the specified period.

It’s important to note that eligible users are automatically included in the settlement, unless they actively opt out, in which case they will not receive compensation. Opting out gives users the freedom to pursue legal action independently or join other lawsuits related to the same allegations. Users who fail to take action will not receive a payment and will forfeit their right to sue or participate in any further related lawsuits.

However, access to the allocated funds will only be granted after the court approves the settlement. A final hearing is scheduled for September 7 to determine the fate of the settlement.

Time is of the essence for eligible Facebook users to seize this unique opportunity to secure a share of the substantial settlement and potentially hold the company accountable for the data sharing practices in question.