Back in 2018, Facebook (now Meta) found itself in hot water after it was revealed that third parties, notably UK political consulting firm Cambridge Analytica, had collected the private user data of millions of people through Facebook without their consent. Getting without. This led to highly publicized investigations by regulators and hefty fines from the US and UK, among others. Now, the company has agreed to settle the class action lawsuit.
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As seen by Reuters.Meta has agreed to pay $725 million to settle a long-running class action lawsuit related to the Cambridge Analytica scandal. 73 page document Describes the struggles of the plaintiffs in the case, as well as the broader impact of this favorable outcome on the tech industry as a whole. The $725 million settlement is the largest that Meta has agreed to pay to settle a private class action lawsuit and the largest financial settlement ever in a data privacy class action. However, Meta has not admitted any wrongdoing as part of the settlement.
Plaintiffs’ attorneys noted that:
The recovery amount is particularly surprising because Facebook argued that its users consented to the practices at issue, and that the class suffered no actual damages. Plaintiffs dispute these characterizations, but acknowledge that they faced tremendous risks in this novel and complex case. In addition to the monetary relief obtained by the plaintiffs, Facebook has substantially changed the practices that gave rise to the plaintiffs’ allegations, as evidenced by declarations by two Facebook employees with knowledge of these facts. has been described.
Importantly, since this case began, Facebook has stopped allowing third parties to access user data through their friends, allowing third parties to access Facebook user information and has significantly expanded its ability to limit and monitor usage, and developed more robust tools for informing users. What information Facebook collects and shares about them.
It is important to note that Cambridge Analytica went bankrupt in 2018 following media and regulatory pressure and scrutiny. Although Meta has settled the lawsuit, the matter is not over yet because the company and its staff (including CEO Mark Zuckerberg) are still facing other lawsuits on the subject, which are being filed in various US states. have been filed by the Attorney Generals of
Source: Settlement document through Reuters
