Meta’s (NASDAQ:META) Facebook is preparing for a settlement as part of a privacy lawsuit, and the deadline to sign up is quickly approaching.
Anyone with a Facebook profile, active or deactivated, may be eligible to take part in the $725 million settlement. The lawsuit has to do with privacy violations, and users have until Aug. 25 to sign the form to join the lawsuit.
The form is simple enough to fill out as it only requires some basic information. That includes the user’s name, email, address, and phone number, as well as some other details. It also requires their username on Facebook.
This lawsuit is open to anyone that had a Facebook profile between May 24, 2007, and Dec. 22, 2022. Users that had a profile that has been deactivated will have to specify the time range that their profile was active when filling out the settlement form.
How Much Money Will Users Be Paid From the Facebook Lawsuit?
That’s still unclear as we don’t know how many people will fill out the settlement form. The settlement includes $725 million that will be split between users. That means that the payment will vary depending on how many people take part in the claim. Also, payments may vary based on the amount of time a person had a Facebook profile.
As for when the payments will show up, that’s also still up in the air. The final court hearing for the settlement is set to take place on Sept. 7, 2023. That means payments won’t be sent out until at least after that day.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
