Facebook parent Meta has consented to pay $725 million to settle a long-running claim that blamed the interpersonal organization for permitting outsiders, including Cambridge Analytica, to get to clients’ confidential information.
A late Thursday court filing revealed the amount.
The plaintiffs’ attorneys stated in the filing that “the proposed settlement of $725,000,000 is the largest recovery ever achieved in a data privacy class action and the most Facebook has ever paid to resolve a private class action.”
As part of the settlement, which still needs to be approved by a judge in the US District Court’s San Francisco division, Facebook has not admitted any wrongdoing.
Facebook was said to have reached a preliminary agreement in August, but the amount and terms of the settlement were not made public at the time.
In 2018, Facebook users filed the lawsuit, claiming that the social media platform had violated privacy laws by disclosing their personal information to third parties, including the British company Cambridge Analytica, which had been associated with Donald Trump’s 2016 presidential campaign.
Cambridge Analytica, which has since closed down, then, at that point, gathered and took advantage of the individual information of 87 million Facebook clients without their assent, the claim asserted.
It is alleged that that data was utilized in the creation of software intended to sway US voters in favor of Trump.
Facebook has since taken out admittance to its information from large number of applications associated with mishandling it, confined how much data accessible to designers, and made it more straightforward for clients to align limitations on private information sharing.
In 2019, federal authorities imposed independent oversight of Facebook’s personal data management and imposed a $5 billion fine for misleading its users.