The time has finally come… the Facebook Class Action Lawsuit is coming to an end and that means for those that applied, you’ll soon be seeing some extra money in your bank account.
In case you didn’t know, Facebook has a class action lawsuit against them and back in April, the judge tentatively approved the $725 million settlement.
The best part about that is, you get to get your chunk of that money!
According to reports, Meta agreed to the payment to settle a lawsuit claiming Facebook allowed users’ personal data to be shared with third parties.
One of the most famous of those being Cambridge Analytica, a consulting firm that supported Donald Trump’s 2016 presidential campaign.
According to the Associated Press, that firm harvested the data of as many as 87 million Facebook users. YIKES!
With that being said, Facebook users were able to apply to the lawsuit to receive payment from this settlement.
While the claim form is now closed, if you were one of the 17 million people who filed their claim, the money is coming soon.
And as of today, we have a better idea of how much that payment will actually be.
Who qualifies for a payment?
Anyone who was a Facebook user between May 24, 2007, and Dec. 22, 2022, is eligible, per the settlement page.
If you were a Facebook user in the United States between May 24, 2007, and December 22, 2022, inclusive, you may be eligible for a cash payment from a Class Action Settlement.
The majority of Facebook users felt into that category and quailified.
So, if you filed your claim by the August 25, 2023 deadline, here’s what happens next…
Yesterday was the court hearing for the settlement payments and according to reports, after attorneys’ fees and administrative costs, lawyers for the plaintiffs told Judge Vince Chhabria they expect the median payment to be around $30 per person.
Now keep in mind, not everyone will be receiving the same sized payment.
Anyone in the U.S. who had a Facebook account between between May 2007 and December 2022 qualifies, but those who had an active account for longer get more money.
So, when will these payments be sent?
Payments will be sent once the judge gives the settlement final approval. However, there could be appeals, which would delay payments.
Basically, just watch your account for a random amount of money from this settlement.