Some money may be coming your way if you used Facebook sometime between May 2007 and December 2022.
A California federal judge last month gave preliminary approval to a $725 million deal between Facebook parent company Meta and users claiming the social media platform allowed their data to be accessible to third-parties without their consent.
Meta in December agreed to settle the class action lawsuit brought in the aftermath of the 2018 Cambridge Analytica scandal, but denies any liability or wrongdoing.
Final approval of the settlement won’t happen for several months, but you don’t have to wait to submit a claim. Here’s what you need to know about the settlement and how to get cash from the deal.
Why did Facebook agree to pay $725 million?
The privacy class action lawsuit sprang from reports that Cambridge Analytica, a data firm that worked with Donald Trump’s 2016 presidential campaign, obtained personal information on millions Facebook users to target voters.
The numerous lawsuits claimed Facebook shared or otherwise made user data accessible without permission to third parties such as app developers, business partners, advertisers and data brokers and failed to monitor what was done with the information.
Meta denies the allegations, but agreed to pay the massive settlement “to avoid the costs and risks of a trial,” according to the settlement website.
Meta has also been fined a record $5 billion by the Federal Trade Commission over privacy violations.
Who qualifies for the Facebook settlement?
Anyone who had a Facebook account between May 24, 2007 and December 22, 2022 in the U.S. is included in the settlement class.
The number of Facebook users eligible for settlement payments ranges from about 250 million to 280 million people, according to court documents.
How do I get paid?
Online claims must be submitted by 11:59 p.m. (PT) on Aug. 25, while mailed claims must be postmarked by Aug. 25.
How much will money I get?
The settlement payment amount depends on how many people submit valid claims and how long you were a Facebook user on during the eligibility period.
The money you’ll get also depends on how much of the $725 million is left after fees and expenses are deducted.
When can I expect my Facebook settlement check?
The final approval hearing is scheduled for Sept. 7. Claims should be paid out after the court grants its final approval and any appeals are resolved.
This article was originally published by Amanda Pérez Pintado: Facebook could owe you money. Here’s how to get cash from Meta’s $725 million settlement.