Meta to Pay $725 Million Settlement Over Cambridge Analytica Data Scandal 💰

Meta Agrees , to Settle Cambridge Analytica , Class Action Lawsuit.<br />The Verge reports that Meta, Facebook's parent company, will settle for $725 million.<br />The Verge reports that Meta, Facebook's parent company, will settle for $725 million.<br />The settlement does not include any admission of guilt by Meta.<br />The class action lawsuit was filed in 2018 after Facebook was accused of sharing user data with Cambridge Analytica for political advertising purposes and beyond.<br />The class action lawsuit was filed in 2018 after Facebook was accused of sharing user data with Cambridge Analytica for political advertising purposes and beyond.<br />The settlement must <br />first be approved by <br />federal judges in California.<br />If approved, the $725 million would be the largest amount Facebook has ever paid to settle a class action lawsuit.<br />The Verge reports that it would also <br />be the largest-ever payout "in a <br />data privacy class action case.".<br />This historic settlement will provide meaningful relief to the class in this complex and novel privacy case, Derek Loeser and Lesley Weaver of Keller Rohrback LLP, <br />the law firm representing the plaintiffs, via statement.<br />A spokesperson for Meta <br />also gave a statement.<br />We pursued a settlement as it’s in the best interest of our community and shareholders. Over the last three years we revamped our approach to privacy and implemented a comprehensive privacy program, Meta spokesperson, via statement