![]() 23 deadline, which works out to about $338 per user. That leaves the remaining $540 million to be divided among the roughly 1.6 million members of the class who filed a claim before the Nov. The legal firms representing the plaintiffs asked to get about $110 million of the settlement money. The following month, he agreed to a preliminary sign off on a modified $650 million settlement, which he approved the final version of in this week's hearing. There are about 7 million total affected Facebook users in Illinois, and the statute stipulates penalties of $1,000 for each accidental violation or $5,000 for each knowing violation of the law, so Facebook could have been on the hook for as much as $35 billion if the case had gone to trial and the company lost.įacebook tried to settle for $550 million in June 2020, but Judge Donato rejected that deal, finding it to be insufficient. Facebook, still one of the world's biggest social media firms, is run by Meta.īut Facebook has seen a slowdown in growth due to a slowing in the advertising market, changes to Apple's iOS privacy rules and rising competition from TikTok.The plaintiffs in the case argued that Facebook violated that law when it introduced the "tag suggestions" feature without gaining express consent from users. ![]() Since the scandal, Facebook changed its name to Meta to reflect its growing ambitions to become a leader in the metaverse, a term used to refer to virtual worlds. In 2018, Britain's Channel 4 News filmed Cambridge Analytica executives suggesting that the firm would use sex workers, bribes, ex-spies and fake news to help candidates win votes around the world. Securities and Exchange Commission over allegations the company made misleading disclosures about the risk of misuse of user data.Ĭambridge Analytica, which shut down after the allegations in 2018, was controversial because the data it harvested from Facebook was used to inform political campaigns. Facebook also agreed to pay $100 million to settle a case around the same time with the U.S. ![]() ![]() Federal Trade Commission opened a probe into Facebook over concerns that the social media firm had violated the terms of a previous agreement with the agency, which required it to give users clear notifications when their data was being shared with third parties.įacebook in 2019 agreed to a record $5 billion settlement with the FTC. Cambridge AnalyticaĪfter the revelations, the U.S. The company did not admit wrongdoing as part of the settlement. Over the last three years we revamped our approach to privacy and implemented a comprehensive privacy program," a Meta spokesperson told CNBC. "We pursued a settlement as it's in the best interest of our community and shareholders. Judges overseeing the case in the Northern District of California will now have to approve the settlement. Plaintiffs alleged that Facebook "granted numerous third parties access to their Facebook content and information without their consent, and that Facebook failed to adequately monitor the third parties' access to, and use of, that information," according to the law firm behind the lawsuit. The case was broadened to focus on Facebook's overall data-sharing practices. The class action lawsuit was prompted in 2018 after Facebook disclosed that the information of 87 million users was improperly shared with Cambridge Analytica, a consultancy firm linked to former President Donald Trump's 2016 election campaign. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |