If you were a Facebook user between May 2007 and December 2022, this is an important message for you. You may be entitled to compensation, but time is running out to claim it.
The judge’s approval sets the stage for a final approval hearing scheduled for September. However, you don’t have to wait until then to act. You can start submitting your claims now in order to potentially receive a cash payment.
Who is Eligible for the Facebook Settlement?
The $725 million settlement applies to any individual who was a Facebook user in the United States between May 24, 2007, and December 22, 2022. It doesn’t matter how active or engaged you were on your account during that period; simply being a user is enough to make you eligible for compensation.
Claim Submission Deadline
Time is of the essence. The deadline for submitting your claim is rapidly approaching. To ensure your eligibility for potential compensation, the claim form must be submitted no later than August 25, 2023.
You have the option of completing the claim form online or downloading it and mailing it to the settlement administrator at the address provided below:
Facebook Consumer Privacy User Profile Litigation c/o Settlement Administrator 1650 Arch St., Suite 2210 Philadelphia, PA 19103
How Much Compensation Can You Expect?
The amount of compensation an individual may receive will vary based on various factors. As with most class-action lawsuits, the final payout will be determined by the specifics of each case.
Don’t let this opportunity pass you by. Take action now to potentially receive the compensation you deserve as a result of Facebook’s mishandling of user data.
Remember, the clock is ticking, and the deadline to submit your claim is August 25, 2023. Don’t delay – secure your chance for rightful compensation today!
The settlement form states that the payment amount will vary depending on the number of claims submitted. Before the funds are released, administrative costs and attorneys’ fees will be deducted from the settlement fund.
Distribution of Settlement Payments
Once the Court grants Final Approval of the Settlement and any appeals are resolved, the claim website mentions that the settlement payments will be distributed as soon as possible.
Impact on People Affected
Due to Facebook’s vast user base and the 16-year timeframe of this settlement, there are millions of individuals who may be eligible to submit a claim. In 2022, there were approximately 240 million Facebook users in the U.S., according to data from Statista.
Meta’s Statement on the Lawsuit
In December 2022, Meta tentatively agreed to pay the settlement. A spokesperson from Meta stated that reaching a resolution for the class-action lawsuit was in the best interest of both their community and shareholders. The company emphasized that it had made significant changes to its privacy approach and had implemented a comprehensive privacy program. However, Meta denies any liability or wrongdoing related to the lawsuit, as stated on the lawsuit website.
Representatives for Meta have not yet responded to requests for comment on this story.
Mark Zuckerberg’s Response
When the Cambridge Analytica scandal unfolded in 2018, then-Facebook CEO Mark Zuckerberg expressed his apologies, stating, “I’m really sorry that this happened.”
Meta shares experienced a marginal decline of just over 2% in Friday morning’s trading session. However, they have still gained an impressive 131.98% year-to-date in 2023, outperforming the S&P 500 which recorded a 13.46% gain during the same period.