Facebook Users May Be Eligible For Cash Payment in $725M Class-Action Settlement

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A massive $725 million class-action settlement has been reached with Facebook, affecting anybody who used the massive social network in the United States over a period of nearly 15 years.

The lawsuit, currently pending in the U.S. District Court for the Northern District of California, alleges that Facebook made users' data available to third parties without their permission, and did not monitor or enforce third-party access to the data.

This includes the collection of data by now-defunct political consulting firm Cambridge Analytica, which went on to be used for political advertising on the platform.

The wide-ranging lawsuit includes all Facebook users in the U.S. between May 24, 2007 and Dec. 22, 2022.

Those who are eligible are able to file a claim form to be a part of the class-action settlement, with the deadline to file a claim falling on Aug. 25, 2023.

The lawsuit is different from the $650 million class action settlement reached with Facebook in Illinois, which resulted in hundreds of dollars being paid out to more than a million residents.

With still a few months left to file a claim for the upcoming settlement, here's what you need to know:

Who Is Eligible To Receive a Payment?

Anybody who was a U.S. Facebook user at any point between May 24, 2007 and Dec. 22, 2022 is eligible to file a claim.

How Much Money Could I Receive in a Payment?

While the breakdown of the $725 million settlement is currently unknown, it's best to not go in expecting a life-changing chunk of change.

The payment size for each individual ultimately depends on how long each person was a Facebook user and how many users ultimately file a claim before the deadline.

Administrative and court costs will initially be deducted from the overall settlement total, creating a "net settlement fund," which payments will be paid out of from.

The amount each claimant receives will then be determined by the length of Facebook usage and number of overall claimants.

What Are the Deadlines?

While the deadline to file a claim is coming up on Aug. 25, there are a few other deadlines to keep an eye out for.

Individuals looking to object to or opt out of the settlement have until July 26, 2023 to do so. While those who opt-out will not receive a payment, individuals are able to both object to the settlement and file a claim for payment.

Those who do not file a claim, opt out or object to the settlement are automatically part of the settlement, but are ineligible to receive a payment unless a claim is filed.

The final approval hearing for the settlement is scheduled for Sept. 7, 2023 at 11 a.m. CDT.

How Do I File A Claim?

Individuals hoping to receive a payment as part of the class-action settlement can file a claim here at any point through Aug. 25, 2023.

The form asks for some personal information, information on your Facebook account and how you would like to receive payment.

More information about the settlement can be found here.

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