Facebook CEO Mark Zuckerberg testifies before the U.S. House Financial Services Committee during a hearing on Capitol Hill in Washington on Oct. 23, 2019.
Xinhua News Agency | Getty Images
In all, the Cambridge Analytica scandal cost Meta, Facebook’s parent company, nearly $5.9 billion. Beyond the $725 million settlement, the company paid a record $5 billion settlement to the Federal Trade Commission, alongside a further $100 million to the Securities and Exchange Commission.
People who had an active U.S. Facebook account between May 2007 and December 2022 have until Aug. 25 to enter a claim. Individual settlement payments haven’t yet been established because payouts depend on how many users submit claims and how long each user maintained a Facebook account.
Facebook users can make a claim by visiting Facebookuserprivacysettlement.com and entering their name, address, email address, and confirming they lived in the U.S. and were active on Facebook between the aforementioned dates.
Facebook rebranded itself as Meta in 2021 and settled the class action suit a year later. In some ways, it’s a much different company than it was during the Cambridge Analytica scandal. The company has since expanded further into the metaverse with new hardware products such as the Quest 3, coming this fall. It’s also revealed its Llama 2 large language artificial intelligence model; Reels, to compete with TikTok; and, more recently, Threads, which is taking on Twitter.
The breach forced Facebook founder Mark Zuckerberg to testify before Congress and to take out full-page ads where he apologized for the missteps. “I’m sorry we didn’t do more at the time. We’re now taking steps to ensure this doesn’t happen again,” Zuckerberg said.
The $725 million settlement was not an admission of wrongdoing.
