Facebook is Settling a Class Action Lawsuit for $725 Million — What Is Your Share of the Money?
Written by
Dawn Allcot
Edited by
Cory Dudak
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“Found money” or windfalls can provide some leeway in your budget, help you get ahead on credit card debt, or treat yourself to something nice. With tax refunds smaller than ever this year, you may be looking to other sources for extra cash.
Here’s some good news. If you were a Facebook user at any time between May 2007 and December 2022, you can cash in on a fraction of the $725 million settlement from the class action suit against Facebook parent company Meta.
The settlement comes from a suit alleging that Facebook, now Meta, used or shared with third parties user data without the permission of their users. Facebook allegedly did not monitor or enforce third-party access and use.
Meta has denied wrongdoing. But, in a statement following the settlement agreement, Meta spokesperson Dina Luce said, “We pursued a settlement as it’s in the best interest of our community and shareholders.”
How To File the Claim Form
It takes just a few minutes to file the claim. The form is available here. You’ll need to provide some personal information, including your name, address and email address. You will also, separately, need to enter the email, username and phone number associated with your Facebook account.
If you no longer have a Facebook account, you’ll need to provide the dates that you had an account.
Finally, you’ll need to include a way to get paid. You can opt for payment through:
- Prepaid Mastercard.
- PayPal.
- Venmo.
- Direct Deposit (ACH) to your bank account.
- Zelle payment to your bank account.
- Paper check (which may take longer).
It’s important to note that you’ll need to provide your bank account information if you opt for direct deposit.
Make sure to submit the claim form by the deadline of August 25, 2023, 11:59 p.m. Pacific.
Does Submitting the Claim Form Guarantee You Will Get Paid?
If you submit the claim form, you can expect payment in the fall if the court agrees to the settlement. The settlement website gives no indication of how much money each person will receive, but says it will depend on:
- The number of users who file a claim.
- How long you used Facebook during that time.
The total settlement fund will be distributed between parties to cover administrative costs, class counsel costs, and service awards to settlement class representatives. After that, the remaining funds will be distributed to settlement class members who submitted a claim form.
How to Opt-Out:
Sadly, the opt out deadline has passed as of July 26.
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