Meta Agrees , to Settle Cambridge Analytica , Class Action Lawsuit.
The Verge reports that Meta, Facebook's parent company, will settle for $725 million.
The Verge reports that Meta, Facebook's parent company, will settle for $725 million.
The settlement does not include any admission of guilt by Meta.
The class action lawsuit was filed in 2018 after Facebook was accused of sharing user data with Cambridge Analytica for political advertising purposes and beyond.
The class action lawsuit was filed in 2018 after Facebook was accused of sharing user data with Cambridge Analytica for political advertising purposes and beyond.
The settlement must first be approved by federal judges in California.
If approved, the $725 million would be the largest amount Facebook has ever paid to settle a class action lawsuit.
The Verge reports that it would also be the largest-ever payout "in a data privacy class action case.".
This historic settlement will provide meaningful relief to the class in this complex and novel privacy case, Derek Loeser and Lesley Weaver of Keller Rohrback LLP, the law firm representing the plaintiffs, via statement.
A spokesperson for Meta also gave a statement.
We pursued a settlement as it’s in the best interest of our community and shareholders.
Over the last three years we revamped our approach to privacy and implemented a comprehensive privacy program, Meta spokesperson, via statement
