"Payments are finally set to begin going out this month from a 2023 settlement in which Bay Area tech giant Meta agreed to pay $725 million to settle allegations that Facebook had broken the law with its data sharing practices. The company's Cambridge Analytica scandal sparked the lawsuit, but it denied wrongdoing throughout years of litigation. The eventual settlement was vast in scope: Anyone in the United States who used Facebook from May 2007 to December 2022 was able to file a claim."
"More than two years after the claims deadline, those submissions have been processed and validated, and the money is about to be on its way. Court filings say that more than 19 million people submitted valid claims - more than the lawyers had expected. The money won't be evenly split; first, the lawyers and lead plaintiffs will take their share."
"The remaining cash - more than $540 million - will go to the rest of the class, depending on how long they used Facebook during the 2007-2022 stretch. For example, if you were on Facebook for 60 months, or five years, in that span, you'll get 60 " allocation points." Then, you'd get a percentage of the overall money pool that matches your percentage of the total "points" pool."
Payments from a 2023 settlement in which Meta agreed to pay $725 million will begin this month to eligible U.S. Facebook users. The lawsuit stemmed from Facebook's Cambridge Analytica data-sharing scandal; Meta denied wrongdoing. Anyone who used Facebook between May 2007 and December 2022 could file a claim. More than 19 million valid claims were submitted and validated. Lawyers and eight lead plaintiffs receive designated awards and fees totaling roughly $180.5 million plus reimbursements and $120,000 to class representatives. The remaining more than $540 million will be distributed among claimants based on allocation points tied to months of Facebook usage. Median payouts are expected to be modest.
Read at SFGATE
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