Facebook will have to shell out some big bucks for data privacy violations, and nearly everyone is eligible for a payout.
The social app’s parent company Meta will pay $725 million to settle a years-long class action lawsuit. To get a portion of the settlement, you must submit a claim by August 25th using the form on www.facebookuserprivacysettlement.com. The date to opt out of the compensation and sue Facebook separately is July 26th.
Luckily for Facebook users, just about anyone who used the app between May 24th, 2007 and December 22nd, 2022 can apply for the funds. As of now, it is unclear how much each person will receive. This will depend on how many people apply for a payout. Also, how long a Facebook user had their account will be a factor. Qualified claimants will receive “points” for every month they were active on the site within the timeframe and receive payouts based on how many they’ve accumulated. Lawyers must also be compensated, so it’s unlikely that over 250 million qualified U.S. users will get rich from the settlement. Still, anyone entitled to these funds is encouraged to apply for their share.
Facebook users will begin seeing their money sometime after the settlement’s final court hearing, which is scheduled for September 7th.