As seen quite often, the giant corporation would just get a slap on the wrist that won’t affect them much – based on 2020 data, Facebook makes approximately $235 million in profit a day. The more people submit eligible claims, the less money everyone will get. Participating in the settlement will likely not feel like a windfall for many as each claimant’s funds would probably not be enough for a drink after work. Affected Facebook users have a few more months to file a claim as the deadline for final submissions is August 25th, 2023.

Class-action suit participants are also asked to pick how they wish to receive their share of the settlement – options include PayPal, Venmo, Zelle, MasterCard, and a direct deposit via ACH.

Claimants must also answer a few basic questions and include emails, usernames, and phone numbers associated with the account. Submitting a claim is easy and consists of filling in general questions such as name, address, and contact details. Individual Facebook users can receive only one payment per person even if the claimant has had multiple accounts over the years. People who do not submit a claim will not get any money, so anyone interested in participating needs to file a claim at. Any Facebook users in the United States between May 24th, 2007, and December 22nd, 2022, are eligible to participate in the class action suit. The social media company denied any wrongdoing but agreed to pay out the lump sum to users located in the USA who have been affected by the scandal and have used the social platform at some point over the last fifteen years. As a result, approximately 85 million people are eligible to participate and potentially qualify for a piece of the $725 million settlement. The political consulting firm exploited a loophole and used a quiz app to access the personal information of over 80 million Facebook users residing in the US. The lawsuit came after the Cambridge Analytica scandal that shook the social platform five years ago. Tech giant Meta, the parent company of Facebook, has reached a settlement with plaintiffs in a class action lawsuit currently pending in the United States District Court for the Northern District of California.

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