If you have had an active Facebook account in the past 15 or so years, you might be owed a payout as part of a $725 million class-action settlement reached with the social media company.
The wide-ranging lawsuit, currently pending in the U.S. District Court for the Northern District of California, alleges that Facebook made users' data available to third parties without their permission, and did not monitor or enforce third-party access to the data.
This includes the collection of data by now-defunct political consulting firm Cambridge Analytica, which went on to be used for political advertising on the platform.
According to the settlement's administrator, class-action members include all Facebook users between May 24, 2007, and Dec. 22, 2022.
Additionally, how much you could receive, and what you'll need in order to file a claim depends on several factors.
Here's what to know.
Who Is Eligible To File a Claim?
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Anybody who was a U.S. Facebook user at any point between May 24, 2007 and Dec. 22, 2022 is eligible to file a claim.
How Do I File A Claim?
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Individuals hoping to receive a payment as part of the class-action settlement can file a claim here at any point through Aug. 25, 2023.
What Do I Need In Order to File a Claim?
In addition to providing some personal information, as well has the preferred method of payment, class-action members will be asked to submit their Facebook username, along with any phone numbers and email addresses associated with the account.
How To Find Your Facebook Username
Your specific Facebook username can be found by logging onto your Facebook account, and then navigating to: âAccountâ > âSettings and Privacyâ > âGeneral Account Settingsâ > âUsername.â
How Much Money Could I Receive in a Payment?
The payment size for each individual ultimately depends on how long each person was a Facebook user and how many users ultimately file a claim before the deadline, the settlement administrator says.
Administrative and court costs will initially be deducted from the overall settlement total, creating a "net settlement fund," which payments will be paid out of from.
The amount each claimant receives will then be determined by the length of Facebook usage and number of overall claimants.
Each eligible claimant will be assigned "one point for each month" they had an activated Facebook account during that window. Once the total number of claimants and their points have been determined, along with the total settlement fund amount, each person will then receive a designated amount, multiplied by their total number of points.
Deadlines to Know
Individuals looking to object to or opt out of the settlement have until July 26, 2023 to do so.
Those who do not file a claim, opt out or object to the settlement are automatically part of the settlement, but are ineligible to receive a payment unless a claim is filed.
The deadline to file a claim is on Aug. 25, 2023.
The final approval hearing for the settlement is scheduled for Sept. 7, 2023 at 11 a.m. CDT.
The latest lawsuit and settlement is different from the $650 million class action settlement reached with Facebook in Illinois last year, which resulted in hundreds of dollars being paid out to more than a million residents.
More information about the newest settlement can be found here.
