Discover How to Claim Your Portion of Facebook’s Recent $725 Million Privacy Lawsuit
Prepare to be astounded: Facebook has been ordered to pay a staggering $725 million as part of a settlement resulting from numerous lawsuits accusing the company of breaching users’ privacy. On top of that, they face a separate class action lawsuit demanding $650 million for unauthorized collection and storage of the biometric data of almost 1.3 million residents of Illinois.
The lawsuits assert that Facebook shared users’ and their friends’ data with third parties without consent or knowledge, neglecting to supervise or control how these entities accessed and utilized the information.
Legal representatives for the plaintiffs approximate that approximately 250 to 280 million individuals may qualify for compensation in relation to this case.
The compensation amount each person receives will depend on the duration of their Facebook account and the number of claimants. Users will accumulate “points” for each month they held an account between May 24, 2007, and December 22, 2022. After legal fees are settled, the funds will be divided based on these factors. However, it’s important to manage expectations and not anticipate an enormous windfall that will pave the way for a move to Beverly Hills. The primary beneficiaries of this settlement are the lawyers.
If you maintained a Facebook account during the aforementioned period, you are automatically included in the settlement. However, to receive compensation, you must submit a claim via the designated website before August 25 of this year. Failure to take action will result in non-payment and forfeiture of the right to sue or participate in any future lawsuit against Facebook pertaining to these claims.
Nevertheless, for those who possess considerable resources and a fervent drive, it is possible to opt out of this lawsuit and independently pursue legal action against Facebook.
While it’s gratifying to witness major tech companies being held accountable for accessing, selling, and sharing our data without consent, relying solely on lawyers and governmental measures is insufficient for safeguarding our identities and personal information. Companies like Meta generate exorbitant profits from our data, making it unlikely for them to cease selling and utilizing it. For instance, Meta raked in over $116 billion last year from a supposedly “free” application. This revenue stems from selling access to and exploiting data. Despite the substantial size of this lawsuit, it only accounts for a minuscule 0.62% of the company’s total earnings—an inconsequential fraction.
The prevalence of the dark web and the rise of hacking exemplify the immense value associated with obtaining personally identifiable information. Consequently, it is crucial to exercise caution to avoid falling victim to data theft, sharing, and trading.
One effective method to prevent data sharing involves adjusting the privacy settings within Facebook. Navigate to “Your Facebook information” and select “Off-Facebook activity” and “Recent activity” to clear your browsing history.
Moreover, you can click on “Manage future activity” and opt for “Disconnect future activity” to deactivate this feature. However, keep in mind that doing so may eliminate the ads you receive from Facebook.
Another prudent suggestion involves reviewing the privacy settings on your mobile device to ensure that installed applications do not have unrestricted access to your camera and microphone unless expressly authorized by you. Many applications default to this access feature and necessitate manual opt-out.
Naturally, as a business owner, you must also consider how you store and utilize your clients’ data. This lawsuit serves as a testament to the government’s earnest commitment to data privacy and protection, which has resulted in enhanced regulatory compliance for data security and privacy across all industries.
If you wish to ensure that you do not inadvertently compromise your clients’ data or violate data protection laws, schedule a brief call with us to discuss your concerns. We can explore potential solutions to help you prevent unintentional exposure of your clients