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What you need to know to cash in on Facebook’s $725 million settlement

Kurt Knutsson223K views

Facebook has just made a $725 million settlement after numerous lawsuits accused the social media giant of violating its users’ privacy. Here’s what we know so far and how you can get your money.

Allegedly, Facebook took its users’ data as well as data on specific users’ friends and shared it with third parties. Some of these third parties included app developers, business partners, advertisers, and data brokers. Facebook did this without the permission of the users, and it also did not monitor exactly how this data was being used or how the data was accessed.

This isn’t the first time that Facebook has been caught sharing data in an unauthorized manner. Last year, the company settled another $650 million settlement with residents of Illinois after it was caught storing and collecting their biometric data without consent.

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You could make a few bucks from this lawsuit, depending on a couple of variables. These variables include how long you’ve had an account with Facebook and how many people end up submitting claims for money. If you had an account with Facebook any time between May 24, 2007, to December 22, 2022, you may be eligible for compensation.

However, the settlement will distribute points for every month you had an account and then split the money based on those numbers after the lawyers receive their pay. Around 250 million to 280 million may be eligible for payment, even if the payment is small.

You must file a claim no later than August 25, 2023, to receive payment from the settlement. Here is the link to the form, and you pretty much just need to fill out basic information like your name, email address, when you had a Facebook account, etc.

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Having an account during the dates listed above automatically makes you part of the settlement, however, doing nothing will prevent you both from getting paid and from the right to sue, continue to sue, or be part of another lawsuit against Facebook related to these legal claims.

If you decide that you want nothing to do with the settlement and are considering taking additional legal action, you may opt out of it on or before July 26, 2023, by submitting a completed and signed opt-out request online or by U.S. mail to the following address:

Facebook Consumer Privacy User Profile Litigation
c/o Settlement Administrator
Attn: Exclusion
P.O. Box 58220
Philadelphia, PA 19102

 

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22 comments

Christiansen Donna April 26, 2023 - 7:34 am
How can we find out when we first subscribed to Facebook?
Kurt Knutsson April 29, 2023 - 12:23 pm
Hi Donna, here's how you can find out when you first subscribed: 1) Open Facebook in your in your browser on your computer and log in 2) Click on your profile picture in the top-right of the site 3) Select Settings & Privacy. 4) Click Settings in the menu that opens up 5) On this main settings page, in the left sidebar, click the Privacy row. 6) Several new options appear under Privacy. Click your Facebook information 7) In the right part of the screen, you'll see Access profile information. Click view. 8) In the next screen, in the left-hand panel, under the Your Information section on the left, select Personal Information. 9) On the right pane, look at the Your account creation date and you'll see the date you created your account.
Jeff Smejkal April 29, 2023 - 4:41 pm
Hi Kurt. Thanks for sharing all this valuable information with the world, surely is priceless in today’s world. My question is our granddaughter is graduating next month from high school and we would like to buy her a good quality laptop. Can you suggest any in the $500 price range? Thank you, much appreciated.
Kurt Knutsson April 29, 2023 - 5:27 pm
Hi Jeff, you can take a look at our picks here
Martha April 30, 2023 - 8:14 am
Question: Hubby and I want to know how to find out if our house has been compromised with loans we know nothing about? Do we call our mortgage company or is there a “www.” page we can Google? Thanks Martha
Kurt Knutsson April 30, 2023 - 12:15 pm
Hi Martha, if you suspect that your house has been compromised with loans you know nothing about, you should contact your mortgage company immediately. They can help you investigate the issue and take appropriate action. You can also monitor your bank statements and credit card activity closely for any signs of fraudulent transactions. Hackers can use your financial information to make unauthorized purchases or steal your identity. If you spot any suspicious activity, notify your financial institution immediately to freeze your accounts and investigate the issue. As you’ll see from our article here, an identity theft protection service can monitor personal information like your Social Security Number (SSN), phone number, and email address and alert you if someone opens up an account in your name. Some of the best parts of using an identity theft protection service include identity theft insurance to cover losses and legal fees, and a personal US-based case manager who can help you recover any losses.
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