Skip to content

  • Home
  • Economy
  • entertainment
  • science
  • sport
  • Tech
  • Top News
  • World
    • About Us
    • Privacy Policy
    • Contact Us
    • DMCA
    • Editorial Policy
  • Toggle search form
Meta pays $725 million to resolve the Cambridge Analytica case

Meta pays $725 million to resolve the Cambridge Analytica case

Posted on December 23, 2022 By gsxnews75 No Comments on Meta pays $725 million to resolve the Cambridge Analytica case

The settlement was in the best interest of our community and stockholders the firm claimedOwner of Facebook Meta has agreed to pay $725 million (£600 million) to resolve a lawsuit involving a data breach connected to the political consulting firm Cambridge Analytica.

In the ongoing battle, Facebook was accused of granting access to user data to third parties, including the British company.

According to attorneys, the requested amount is the most in a US data privacy class action.

While denying wrongdoing, Meta claimed to have “revamped” its privacy policies in the previous three years.

The settlement was “in the best interest of our community and stockholders,” the firm claimed.

 

“We look forward to constructing services that consumers enjoy and trust while putting privacy first,” the statement reads.

James Ball, a tech author, told the BBC that although Meta had to consent to a significant payout, it was “not that much” money for the software giant.

It’s less than a tenth of what it spent just last year on attempts to build “the metaverse,” he claimed.

Therefore, Meta probably won’t be too dissatisfy with this agreement, but it does warn social networking businesses that errors may be extremely expensive.

The proposed settlement must be approve by a federal judge in San Francisco and was reveal in a court filing late on Thursday.

Lead plaintiffs’ attorneys Derek Loeser and Lesley Weaver stated that “this historic settlement will provide real relief to the class in this complicated and innovative privacy matter.”

According to the decision document, the class size is “in the range of 250-280 million,” and it represents all Facebook users in the US between May 24, 2007, and December 22, 2022.

See also  Download WhatsApp 2022 Update 2.22.25.11 Official +Beta

The plaintiffs’ method of receiving their portion of the settlement is unclear.

If each person chose to file a claim, Janis Wong, a privacy and ethical researcher at The Alan Turing Institute, estimated that the cost would only be $2–$3 per person.

The settlement will be the subject of another hearing on March 2, 2023.

Even though the $725 million settlement excludes UK users, a competition law expert earlier this year proposed a multi-billion dollar class action lawsuit against Meta involving the misuse of user data, including the Cambridge Analytica period.

The UK Competition Appeal Tribunal should provide additional information in the coming year. She told the BBC.

The privacy issue involving Cambridge Analytica, made public in 2018, was center on collecting Facebook users’ data by outside apps.

The now-defunct consultancy firm supported Donald Trump’s electoral victory in 2016 by using the personal data from millions of US Facebook accounts for voter profiling and targeting.

The company acquired the data without users’ permission from a researcher who Facebook had permitted to utilize the platform and launch an app that collected data from millions of Facebook users.

Facebook believes that the political consultant was inappropriately given access to the data of up to 87 million people.

The incident spurred government inquiries into Facebook’s privacy policies, resulting in lawsuits and a prominent US congressional hearing when Meta head Mark Zuckerberg was question.

To end a Federal Trade Commission investigation into its privacy practices, Facebook agreed to pay $5 billion in 2019.

Additionally, the internet giant forked over $100 million to settle charges made by the US Securities and Exchange Commission that it had deceived investors about the misuse of customer data.

See also  2022's Best iPhone Xs Max Magnetic Cases

The corporation is contesting a legal action brought by the attorney general of Washington, DC, and state attorneys general are still conducting investigations.

gsxnews75
Tech Tags:technology

Post navigation

Previous Post: The best Christmas movies to watch on Christmas Eve range from Love Actually to Home Alon
Next Post: Paris, episode: Three people slay. and several more are injured

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • June 2021
  • Business
  • Digital Marketing
  • Economy
  • Education
  • Education
  • entertainment
  • Fashion
  • Game
  • Health
  • Home Improvement
  • Resturant
  • sport
  • Tech
  • Top News
  • Travel
  • World
  • Behind the new La Rose Lane sign is a poster of Black Boy Lane
  • Scarlet and Violet: The Best Gastrodon Build for Tera Raids
  • Everything We Know About Janelle Brown from Sister Wives
  • A Republican-led House committee will investigate the Biden family’s business
  • How Last Of Us Episode 3’s Last Shot Was Taken Straightforwardly From The Game,

Golden Sub Extra News © 2022. All Rights Reserved.

Powered by PressBook WordPress theme