- April 23, 2023
- 6 minutes read
What you need to know to cash in on Facebook’s $725M settlement
Facebook has just made a $725 million settlement after numerous lawsuits accused the social media giant of violating its users’ privacy. Here’s what we know so far and how you can get your money.
What did Facebook do to receive these lawsuits?
Allegedly, Facebook took its users’ data as well as data on specific users’ friends and shared it with third parties. Some of these third parties included app developers, business partners, advertisers, and data brokers. Facebook did this without the permission of the users, and it also did not monitor exactly how this data was being used or how the data was accessed.
This isn’t the first time that Facebook has been caught sharing data in an unauthorized manner. Last year, the company settled another $650 million settlement with residents of Illinois after it was caught storing and collecting their biometric data without consent.
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Could I be owed money?
You could make a few bucks from this lawsuit, depending on a couple of variables. These variables include how long you’ve had an account with Facebook and how many people end up submitting claims for money. If you had an account with Facebook any time between May 24, 2007, to December 22, 2022, you may be eligible for compensation.
However, the settlement will distribute points for every month you had an account and then split the money based on those numbers after the lawyers receive their pay. Around 250 million to 280 million may be eligible for payment, even if the payment is small.
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How do I get paid?
You must file a claim no later than August 25, 2023, to receive payment from the settlement. Here is the link to the form, and you pretty much just need to fill out basic information like your name, email address, when you had a Facebook account, etc.
What if I do not wish to be part of the settlement?
Having an account during the dates listed above automatically makes you part of the settlement, however, doing nothing will prevent you both from getting paid and from the right to sue, continue to sue, or be part of another lawsuit against Facebook related to these legal claims.
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If you decide that you want nothing to do with the settlement and are considering taking additional legal action, you may opt out of it on or before July 26, 2023, by submitting a completed and signed opt-out request online or by U.S. mail to the following address:
Facebook Consumer Privacy User Profile Litigation c/o Settlement Administrator Attn: Exclusion P.O. Box 58220 XPhiladelphia, PA 19102
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