You still have time to wrest a tiny slice of $725M from Facebook – Investopedia

If you’ve touched Facebook in the past 15 years or so, you may qualify for a tiny slice of the $725 million that the company must pay to settle a class action lawsuit from the Cambridge Analytics privacy scandal, It won’t be much, and isn’t a sure thing, but you could be eligible for a cash award of more than $500. The exact amount depends how many people apply. Key Takeaways You have until Aug. 25 to file a claim in the $725 million class action privacy lawsuit against Facebook.Your award could range between a few dollars and more than $500, depending on how many of 87 million eligible claimants file.You most likely won’t see any money until the end of the year. Here’s how the math works. From the total settlement with Facebook parent Meta, subtract 25% for lawyers’ fees and $15,000 each for the eight named plaintiffs. That leaves $545 million to be divided evenly among all qualified claimants who file by the Aug. 25 deadline. If about 1% of those eligible file claims, about 1 million people, each would be entitled to about $545. That figure drops to just $70 if 9%—the median rate in a 2019
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