How To Apply For Your Share Of Facebook’s Recent $725 Million Privacy Lawsuit
In a surprising turn of events, Facebook is now facing the consequences of its actions. They've been ordered to pay a hefty sum of $725 million as part of a settlement in response to multiple privacy lawsuits. These lawsuits claim that Facebook violated users' privacy rights. And that's not all - there's another class action lawsuit seeking an eye-popping $650 million, alleging that Facebook unlawfully collected and stored the biometric data of approximately 1.3 million residents of Illinois without their consent or knowledge.
According to the lawsuits, Facebook stands accused of sharing users' data, as well as their friends' data, with third-party entities without proper authorization. Adding fuel to the fire, Facebook failed to monitor or regulate how these third parties accessed and utilized the shared data. Needless to say, this is a serious breach of privacy.
The lawyers representing the plaintiffs estimate that a substantial number of individuals, ranging from 250 to 280 million, may be eligible for compensation under this settlement. The amount each person receives will depend on the duration of their Facebook account and the number of claims filed. To determine this, users will earn "points" for each month they held a Facebook account between May 24, 2007, and December 22, 2022. However, it's important to manage expectations as the final payout may be affected by legal fees deducted from the settlement. Unfortunately, it appears that the primary beneficiaries in this situation will be the lawyers involved.
If you had a Facebook account during the specified dates, you're automatically included in the settlement. However, to be eligible for compensation, you must submit a claim through the designated website by August 25 of this year. Failure to take action within this timeframe will result in forfeiting any potential payment and waiving your right to participate in any future legal action against Facebook related to these claims.
However, for those who are determined and have the means to cover the legal fees, there is an option to opt out of this particular lawsuit and pursue independent legal action against Facebook.
Undoubtedly, it's a positive development that major tech companies like Facebook are being held accountable for their questionable data practices. However, relying solely on legal means and governmental oversight is not enough to safeguard our personal information and identity. Companies like Meta (formerly Facebook) generate substantial revenue by monetizing user data, as evident from their staggering $116 billion earnings from a supposedly "free" app last year. It is worth noting, though, that the settlement amount, while significant, only represents a small fraction - 0.62% - of Meta's total revenue.
The prevalence of the dark web and the increasing incidents of hacking serve as stark reminders of the lucrative nature of personally identifiable information. It's crucial to exercise caution to prevent becoming victims of data breaches, unauthorized sharing, and illicit data trade.
One effective measure to protect your information is to carefully review and adjust the privacy settings on your Facebook account. Access the "Your Facebook information" section and navigate to "Off-Facebook activity" and "Recent activity" to clear your history. Additionally, consider selecting "Manage future activity" and choose "Disconnect future activity" to deactivate this feature. Keep in mind that these actions may impact the personalized advertisements you receive on Facebook.
Another recommendation is to thoroughly review the privacy settings on your mobile device, ensuring that installed apps don't have unrestricted access to your camera and microphone without explicit permission. Some applications may enable these features by default, so be sure to actively disable them.
Furthermore, if you are a business owner, it is crucial to consider how you store and handle your clients' data. The significance of data privacy and protection is clearly evident through this lawsuit, showcasing the growing emphasis on regulatory compliance for data.
