Meta $725M Settlement: Facebook Privacy Class Action

Introduction

The recent class action settlement involving Meta Platforms, Inc., formerly known as Facebook, Inc., has generated significant interest among the public. The settlement resolves allegations that Facebook shared or otherwise made available user data to third parties without permission and failed to adequately monitor or control the access and use of such data.

Breaking Down the Settlement Amount

The settlement reached between Meta Platforms (Defendant) and Plaintiffs involves a massive $725 million fund. This fund is intended to cover all valid claims filed by eligible class members, administrative costs associated with managing the settlement process, attorneys' fees and expenses incurred during litigation, as well as awards for class representative services. .

While it is difficult to draw direct comparisons between different cases due to varying circumstances and legal issues involved, it can be said that the $725 million figure represents one of the largest settlements ever reached in a consumer privacy lawsuit. This reflects both the widespread impact of Facebook's alleged practices on its users' privacy rights and concerns about potential financial implications for Meta Platforms if it were found liable at trial.

Important Dates: Deadlines and Fairness Hearing

In any class action settlement process, there are several critical dates that claimants must be aware of in order to participate effectively. For this particular case:

• July 26, 2023: Deadline to exclude oneself from (opt-out) or object to the settlement.
• August 25, 2023: Deadline to file a claim for a cash payment.
• September 7, 2023, at 13:00 GMT-7: Final Approval Hearing (Fairness Hearing).

The Fairness Hearing is an important event in the settlement process, as it represents the final opportunity for class members to voice any concerns or objections they may have regarding the terms of the proposed settlement. During this hearing, the presiding judge will evaluate whether the settlement is fair, reasonable, and adequate for all parties involved. If approved by the court, class members who have filed valid claims will be eligible to receive their share of the settlement funds.

Who Are The Class Members?

The Settlement Class includes all Facebook users in the United States between or during May 24, 2007, and December 22, 2022 (the Class Period). In other words, if you were a Facebook user residing in the United States at any point during this time frame - regardless of whether you were continuously active on Facebook throughout that period - you are considered a member of this Settlement Class and are potentially eligible to receive compensation from this fund.

What Can Class Members Expect To Receive?

The amount each class member can expect to receive from this settlement depends on several factors. First and foremost is how many eligible claimants actually submit valid claims before August 25th deadline. This number will directly impact how much money remains available for distribution after deducting administrative expenses and other costs associated with managing the fund.

Once these deductions have been made - resulting in what is termed the Net Settlement Fund - the remaining amount will be divided among all authorized claimants based on a point system. Each authorized claimant will receive one point for each month they had an active Facebook account during the Class Period. The Net Settlement Fund will then be divided by the total number of points assigned to all eligible claimants, resulting in a per-point value.

Finally, each authorized claimant's individual award will be calculated by multiplying their total number of points by this per-point value. It is important to note that while it is difficult to predict exactly how much money each claimant can expect to receive at this stage, it is reasonable to assume that the more months you were active on Facebook during the Class Period, the higher your potential payout may be.