Summary:
- The deadline for Facebook users to file claims for the $725 million settlement related to privacy violations is Friday.
- Eligible claimants include US residents who had a Facebook account between May 2007 and December 2022.
- The lawsuit originated from revelations that third parties harvested user data without clear user understanding.
- Claim amounts will vary based on the number of applicants and the duration of their Facebook account usage.
- The final payout will be calculated after deducting legal and administrative costs from the settlement fund.
Time is running out for Facebook users to get their share of the $725 million settlement over the social media platform's privacy violations. The deadline to submit a claim is Friday. Hugh Langley, a senior correspondent for Insider, joins us to discuss the details.
Eligibility for Settlement
Anyone who was a US resident and had a Facebook account between May 2007 and December 2022, spanning about 16 years, is eligible to make a claim. This broad eligibility criteria potentially includes hundreds of millions of people.
Exclusions from the Settlement
Individuals who worked for Facebook during the specified time period are excluded from the settlement. US residency and ownership of a Facebook account within the stated timeframe are key requirements. In certain cases, claims can also be made on behalf of deceased family members.
Scope of Settlement
The settlement primarily concerns Facebook and its associated platforms, rather than other entities owned by Meta.
Background of the Lawsuit
The $725 million settlement stems from a class-action lawsuit initiated in 2018. The lawsuit exposed how third parties harvested user data from Facebook, often without users fully comprehending the implications. A notable case was the involvement of Cambridge Analytica, which utilized personality quiz data for political campaigns.
Distribution of Funds
The amount each claimant receives depends on the number of applicants. The $725 million will be divided among eligible claimants after deducting legal fees and administrative costs, which could total around $180-200 million. The final payout will be determined based on the number of months a user had their Facebook account.
Potential Payouts
The exact payout per claimant is uncertain due to the variable factors involved. Those who maintained their accounts for the entire period might receive more substantial payouts. However, estimates range from less than a hundred dollars to potentially three figures or more for those with extensive account history.
Multiple Accounts and Claims
If an individual had multiple Facebook accounts during the covered period, the claim amount will be based on the cumulative account duration. Having a personal and work account does not result in separate claims.
Conclusion
As the deadline for submitting claims approaches, users are encouraged to take action if they meet the eligibility criteria. The potential payouts vary depending on the number of claimants and their account history. The outcome of the settlement remains to be seen as the process unfolds.
The opportunity to claim a portion of the $725 million settlement is drawing near. Users who were part of Facebook's user base within the specified timeframe should consider submitting their claims by the approaching deadline.