The company, which was later called Facebook (MoT) has agreed to pay $725 million to settle a class-action lawsuit that accused the social media giant of sharing personal data with other parties, including Cambridge Analytica.
Image source: succo/ pixabay.com/.
The out-of-court settlement will end a litig in 2018 when Facebook discovered the data of 87 million users of the Cambridge Analyticas platform. The plaintiffs called the $725 million settlement the largest in the history of class data privacy lawsuits in the US and the largest payout of $1.3 million to a class plaintiff. As for the company, it did not admit the fact that it is misdemeanor and stated that it agreed to settle the case in the interests of the community and the shareholders.
The newly abbreviated Cambridge Analytica worked as part of the 2016 US presidential campaign when Facebook* was allowed to collect millions of their data on the website and to target politicians’ ads. As soon as it was revealed, the scandal erupted to cover up the government’s investigation into Facebook’s privacy practices, and the CEO received a letter from Congress saying that he had acted in self-defence.
In 2019, the company paid five billion dollars for the investigation into its privacy policy and 100 million dollars to settle claims in the Securities and Exchange Commission (SEC) for a misuse of user-friendly data. The trial of the state law attorney general has already started.
* Included in the list of public associations and religious organizations that the court approved to liquidate or stop the activities provided for by Federal Act No. 114-FZ of the 25th of July 2002 on countering extremist activity.
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