Facebook's $725 mn settlement: Users in the US can apply to claim money

Facebook users in United States who used the social media platform between May 2007 and December 2022, can claim some money from the social media giant.

According to media reports, Facebook's parent company, Meta is paying the users to settle a lawsuit against the world's largest social media platform that it shared the personal information of millions of users with Cambridge Analytica, a company that supported former President Donald Trump's 2016 Presidential campaign.

A $725 million settlement was approved by a California judge between Meta and Facebook users. According to the reports, "The judge’s approval was a precursor to the final approval hearing, which will take place in September. however, users can start submitting the claims that may get them a cash payment."

While it is not clear how much money an individual user will receive, however, it is sure that if users in large numbers come forward to file the claim, the smaller each payment will be.

In order to apply for settlement, US users can fill out a form and submit it online, or they can either take a printout of the form and mail it.

The case came into the limelight following the 2018 revelations that Cambridge Analytica, a firm with ties to Donald Trump political strategist Steve Bannon, had paid a Facebook app developer for access to the personal information of about 87 million users of Facebook.

The data which was shared was then used to target the US voters during Trump's 2016 presidential campaign, following which he became the 45th President of the United States. 

Uproar over the revelations led to Mark Zuckerberg being grilled by lawmakers.

Facebook's growth has stalled as more people connect and entertain themselves on rival services such as TikTok, but the social network still boasts more than 2 billion users worldwide. 

(With inputs from agencies)