Your long-awaited payday from Facebook privacy settlement is finally here – but it might be less than you expect.
Millions of Americans are now starting to receive payouts from a landmark $725 million privacy class-action settlement with Facebook, resolving claims that the platform improperly shared user data without consent to third parties, including with the controversial Cambridge Analytica firm. Cambridge Analytica was used by Donald Trump in 2016 during his first run for president and it was alleged to have helped spread Russian misinformation.
Delayed by legal appeals following its initial approval in 2023, the Facebook settlement was officially finalized this May. Angeion, the company overseeing the settlement distribution, initially projected that payments would begin in August and has now confirmed that payouts officially started on September 3.
The distributions are being issued over a 10-week period, Angeion said.
After legal and administrative fees, the remaining settlement funds are being divided among claimants based on a point system: One point for each month a user had a Facebook account between May 2007 and December 2022.
Payouts will vary, but lawyers estimated in 2023 that the average payout will be $30.
The eight lead plaintiffs will each receive $15,000, while the lawyers in the case will benefit the most, receiving $181 million, The Hill reports.
The settlement drew a record-setting 28 million claims, likely the highest number ever filed in a U.S. class-action lawsuit, with about 17 million of those deemed eligible, according to Lesley Weaver, co-lead counsel for the plaintiffs, in September 2023.
Payouts are sent via the method each claimant selected, with options including PayPal, Venmo, Zelle, direct deposit, prepaid Mastercard or paper checks.
Users should watch their email for forthcoming notifications on when they should expect their payment within the next several weeks.
