Facebook agrees to $725M settlement: What’s claim deadline?

(NEXSTAR) – If you haven’t submitted your claim for a piece of the $725 million Facebook has agreed to pay in a class action privacy lawsuit, you still have time.

Facebook users have just about four months until the claim deadline on Aug. 25, 2023, to submit an application online or by mail.

To be more specific, not all Facebook users are eligible – but more than 100 million are. Basically, anyone who was a Facebook user in the U.S. between May 24, 2007, and Dec. 22, 2022. (Double check you meet the criteria here.)

The lawsuit stems from accusations that Facebook allowed users’ personal data to be shared with third parties, the most famous being Cambridge Analytica, a consulting firm that supported Donald Trump’s 2016 presidential campaign. The firm harvested the data of as many as 87 million Facebook users, the Associated Press reported.

Meta has agreed to settle the claim for $725 million, but denies any wrongdoing. Facebook has started notifying people who may be eligible via notifications on the platform.

“We pursued a settlement as it’s in the best interest of our community and shareholders,” the company said in a statement sent to Nexstar. “Over the last three years we revamped our approach to privacy and implemented a comprehensive privacy program. We look forward to continuing to build services people love and trust with privacy at the forefront.”

After the Aug. 25 deadline, a final hearing is set for Sept. 7. Payments won’t be sent out to users until after that hearing.

As with many class action lawsuits, the size of each individual’s payout depends on how many claims come in. How long you were a Facebook user will also determine the size of your payment — the longer you had an active account, the larger your payment will be.

And before any money lands in your bank account, attorneys’ fees and administrative expenses will be deducted from the $725 million pot.