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Facebook's $725 million privacy settlement payouts finally begin
The settlement stems from allegations that Facebook violated users' privacy by sharing personal data with third parties, including the notorious Cambridge Analytica scandal.
While the $725 million settlement sounds massive, it is being divided among millions of claimants. (Image credits: Unsplash)
After years of anticipation and multiple legal hurdles, payments from Facebook's $725 million privacy settlement have finally started reaching users, as per multiple media reports.
Angeion, the company overseeing the settlement's administration, confirmed that payouts began on Wednesday, September 3.
The settlement stems from allegations that Facebook violated users' privacy by sharing personal data with third parties, including the notorious Cambridge Analytica scandal. The agreement, which received final court approval in 2023, was delayed by objectors and appeals.
According to Angeion, some of the 28 million users who filed claims have already received emails confirming their claims were approved and payments are on the way. Disbursements will be issued in batches over the next 10 weeks, media reports suggest.
How much will Facebook users get?
While the $725 million settlement sounds massive, it is being divided among millions of claimants. After legal fees and administrative costs - including $181 million for attorneys - the remaining fund will be distributed, as per reports.
Payments are based on a point system: users earn one point for every month they maintained a Facebook account between May 2007 and December 2022. The more months users have been active, the higher the payout.
Lawyers previously estimated the median payment at around $30, though actual amounts may vary depending on account history.
Eight named plaintiffs who represented the class will each received $15,000.
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