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Meta will pay 682 million to settle a lawsuit by Cambridge Analytica

Date: April 21, 2024 Time: 01:54:12

Facebook’s parent company, Meta Platforms, has reached an agreement of 725 million dollars (about 682 million euros at current exchange rates) to resolve a class action lawsuit that accused the social network of sharing user data without permission with the British market research firm Cambridge Analytica.

The agreement, which requires the approval of the federal judge in charge of supervising the lawsuit, would end the case opened in 2018 by Facebook users after it was revealed that Cambridge Analytica, linked to the presidential campaign of Donald Trump in 2016, accessed the data of up to 87 million users of the social network.

It is “the largest recovery ever achieved in a data privacy class action lawsuit and the largest amount that Facebook has agreed to pay to settle a private class action lawsuit,” said the Keller Rohrback law firm, in charge of representing the interests of the plaintiffs.

“We are seeking an agreement because it is in the best interest of our community and shareholders,” a Meta spokesperson said in an emailed statement. “Over the past three years, we’ve renewed our approach to privacy and implemented a comprehensive privacy program. We look forward to continuing to build services that people love and trust with privacy at the forefront,” he adds.

In the summer of 2019, Facebook was fined by the Federal Trade Commission (FTC) and the United States Securities and Exchange Commission (SEC) with fines of 5,000 and 100 million dollars (4,709 and 94 million euros), respectively. , for the Cambridge Analytica case. In addition, the FTC then urged the multinational to create a new corporate structure in order for Facebook to be more responsible for the decisions it made regarding the privacy of its users.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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