Cash in on Facebook's $725M privacy payout – File your claim before it's too late!

If you've been a Facebook user in the United States between May 24, 2007, and December 22, 2022, you have about one week left to file a claim in a data privacy settlement case. Meta, Facebook's parent company, agreed to a $725 million settlement to address privacy-related class action lawsuits. These suits alleged that Facebook allowed third parties to access users' private data without their consent, including data accessed by Cambridge Analytica during the 2016 Trump presidential campaign.

Here's what you need to know if you're considering making a claim:

Eligibility and deadline:

Users falling within the specified time frame can file a claim. The deadline for online submissions is 11:59 pm PT on August 25. If filing by mail, ensure your envelope is postmarked by the same date.

Payment calculation:

The payment amount depends on factors like the number of claimants, your duration as an active Facebook user, and the net settlement fund after costs are subtracted. Each month of an active account gets one point. The total points are used to determine payment per month of activity. For instance, if the net settlement amount is $100, and the total points are 500, you'd receive 20 cents ($100/500) per month you were active. If your active period spanned 52 months, you'd get $10.40.

Also Read | Meta starts removing news content from Facebook, Instagram in Canada

Payment distribution:

The final approval hearing for settlement is scheduled for September 7. If approved, payments will be distributed once appeals are resolved. The exact payment date remains unclear.

Impact on lawsuits:

Joining the settlement class and claiming a payment forfeits your right to sue Facebook or participate in other lawsuits related to covered matters. The deadline for opting out of the settlement class has passed.

With the clock ticking, US-based Facebook users have a limited window to secure their claim in this significant privacy settlement. Make sure to file your claim by August 25 to potentially receive compensation for your years on the social media platform. For more details, visit the Facebook user privacy settlement website.

Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.