Facebook May Owe You $10

It’s part of a legal settlement over the 'Sponsored Stories' system

   

Over the weekend, you may have received an email about getting $10 from Facebook (NASDAQ:FB). While such messages are usually spam or scams, this one is actually legit.

It’s part of a legal settlement over Facebook’s “Sponsored Stories” system, which based ads on the Likes of users — without their permission or payment. The company has set aside $20 million in a fund to pay the obligations.

But of course, there are some important extra details. For example, about $8 million will go to attorney’s fees. This is always the first priority.

Oh yeah, and the claimants may not necessarily get $10. The amount will depend on how many respond. If a ton do so — which seems likely — then there will be no distribution if the average claim is below $5. In this case, the $12 million will go to various privacy charities.

Now, if you still want to sign up, you can do so even if you deleted the email. There’s a Web form where you can make your claim. The deadline is May 2.

Tom Taulli runs the InvestorPlace blog IPO Playbook, a site dedicated to the hottest news and rumors about initial public offerings. He is also the author of “How to Create the Next Facebook” and “High-Profit IPO Strategies: Finding Breakout IPOs for Investors and Traders.” Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, http://investorplace.com/ipo-playbook/facebook-may-owe-you-10/.

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