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Facebook Could Pay $725 Million Over Cambridge Analytica Scandal

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Facebook’s parent company, Meta, proposed to pay $725 million to settle a privacy class action case that accuses the social networking giant of allowing consulting firm Cambridge Analytica and other third parties to unlawfully access users’ personal information.

The lawsuit against Facebook (Now Meta) was initiated following news in early 2018 indicating that the British firm Cambridge Analytica collected information on up to 87 million Facebook users and that the social media platform gave access to this data without the express consent of those affected.

This settlement agreement comes after Facebook paid $5 billion to settle a Federal Trade Commission (FTC) case over user data mishandling and the Cambridge Analytica scandal in 2022, and an additional $100 million to the Securities and Exchange Commission (SEC) for misleading investors about the scandal.

According to a Reuters report, lawyers representing Facebook users said in a joint statement that the new settlement would mark the largest sum in a U.S. privacy class action case.

Attorneys Derek Loeser and Lesley Weaver also added that the landmark settlement will provide “significant relief” to plaintiffs in this “complex and groundbreaking” privacy case.

The agreement is still subject to the judge’s approval for final execution.

Independent Writer. Marketing and communications strategist for politicians, artists, public figures & corporate brands for more than 10 years. Contact: @alejandrosbasso (Twitter)
Escritor independiente. Consultor en marketing y comunicaciones de políticos, artistas, figuras públicas y marcas por más de 10 años. Contacto: @alejandrosbasso (Twitter)

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