The $725 million Facebook data privacy settlement has seen a record-breaking number of American users qualify for payouts.
Facebook Data Privacy Settlement; Receive Pay Out, Know More!| CNBC
Over 17.7 million valid Facebook data privacy settlement claims were submitted in the class-action lawsuit.
The staggering Facebook data privacy settlement claims is the largest number of claims ever filed in a US class action.
An additional 10 million Facebook data privacy settlement claims were discarded due to fraud or duplication.
The Facebook data privacy settlement payouts will begin this month, but due to the high volume of applicants, it may take some time to receive the settlement, and the payout amount is likely to be less than expected.
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Facebook data privacy settlement claimants can expect to receive their payout through Venmo, prepaid Mastercard, PayPal, Zelle, or a physical check.
The Facebook data privacy settlement resulted from a legal battle against Meta, Facebook’s parent company, and allegations that it shared private information with third-party companies, including Cambridge Analytica.
Eligibility for the payout included US Facebook users between May 24, 2007, and December 22, 2022, even if they had deleted their accounts, Forbes reported.
However, individuals such as Meta directors, legal representatives, and those who opted out of the Facebook data privacy settlement are disqualified from receiving a payment. The successful Facebook data privacy settlement claimants can expect to receive approximately $30.
The longer the user had their account during the eligible period, the more money they will receive from the Facebook data privacy settlement, says Forbes.
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