Meta Settles Cambridge Analytica Scandal Case for $725m
upstart writes:
Meta settles Cambridge Analytica scandal case for $725m:
Facebook owner Meta has agreed to pay $725m (600m) to settle legal action over a data breach linked to political consultancy Cambridge Analytica.
The long-running dispute accused the social media giant of allowing third parties, including the British firm, to access Facebook users' personal data.
The proposed sum is the largest in a US data privacy class action, lawyers say.
[...] Tech author James Ball told the BBC it was "not a surprise" that Meta has had to agree to a serious pay-out but that it was "not that much" money to the tech giant.
"It's less than a tenth of what it spent on its efforts to create 'the metaverse' last year alone," he said.
"So Meta probably won't be too unhappy with this deal, but it does stand as a warning to social media companies that mistakes can prove very costly indeed."
[...] "This historic settlement will provide meaningful relief to the class in this complex and novel privacy case," lead lawyers for the plaintiffs, Derek Loeser and Lesley Weaver, said in a statement.
[...] The class size is "in the range of 250-280 million" people, according to the ruling document, representing all Facebook users in the US during the "class period" which runs from 24 May, 2007 to 22 December, 2022.
It is not clear how the plaintiffs would claim their share of the settlement.
Janis Wong, a privacy and ethics researcher at The Alan Turing Institute, said it would only amount to two or three dollars per person if each individual decided to make a claim.
This doesn't even look like it would cover both a coffee and donut at Tim Hortons.
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