Over the years, the social media industry has seen its fair share of legal disputes and scandals. Many of these issues have revolved around Facebook, currently known as Meta Platforms, Inc. How much is the Facebook settlement? is an ongoing question following such legal proceedings.
The answer to the question “How much is the Facebook settlement?” is complicated since it is based on the particular legal problem and the stage of the action.
Significant settlements involving data privacy, antitrust issues, advertising tactics, and facial recognition technologies have been made against Facebook.
The size of these settlements, which reflect the seriousness of the claims and the need for responsibility, can be in the millions or even the billions of dollars.
How Much is the Facebook Settlement?
The Facebook settlement is $725 million. The number of claims submitted in the $725 million Facebook privacy settlement could make up the biggest class action case in American history.
In the class-action lawsuit settlement with the social media store, 17.7 million Facebook users submitted legitimate claims. According to the attorneys working on the case, it could be the most claims ever submitted in a class action lawsuit in the United States.
10 million more claims were submitted, but they were rejected because 8 million of them were deemed to be fraudulent, and 2 million of them were duplicates.
How Much Money Will You Get?
The number of persons who successfully submit claims will determine how much money will be paid out in the settlement. The settlement pool will also be reduced by various administrative fees and other charges.
Imaginarily, each eligible Facebook member would receive less than $5 if they all submitted claims. Both the payment and Facebook’s user base are sizable. However, only a tiny part of the social networking platform’s members are probably going to fill out an application.
The more each applicant receives, the fewer applicants there are. Long-time Facebook users might receive a larger payout from the agreement. For each month they maintained an account during the course of the more than 15-year period, claimants will receive one “point”.
How to Track Facebook Settlement Status?
The method for monitoring your payment may differ, but it sometimes entails going to a special website or using a particular portal offered by the settlement administrator. Below are some general directions:
1. Log on to the settlement’s official website.
2. Enter your login credentials using the data you supplied throughout the application procedure.
3. Click on the website’s “Check Status” area.
4. Type in the necessary information, which may include your claim number or another personal identification.
5. Submit your request to find out the outcome.
Once you have finished these procedures, you should know the status of your Facebook settlement check.
The complex nature of the settlement and the volume of claims being processed might affect processing timelines.
Therefore, it is crucial to keep that in mind. It is essential to exercise patience and occasionally check the condition.
Who is Eligible for a Payout?
Anyone who used Facebook in the United States between May 24, 2007, and December 22, 2022, according to the settlement website, is eligible.
Claimants do not need to provide evidence that a third party accessed their data. In 2021, the Pew Research Center found that 69% of Americans had used Facebook. Statista estimates that there will be 243 million Facebook users in the United States by 2023.
Therefore, the 28 million claims and growth would equal just under 9% of all Facebook users in the United States wanting a share of the settlement.
How Do You Check Your Eligibility?
Finding out the status of your Facebook settlement check requires first establishing your eligibility for reimbursement. There can be various requirements depending on the settlement in the issue.
For you to be eligible for compensation, the issues resolved by the settlement must normally have had a direct impact on you. This indicates that the faults being corrected must have caused you some kind of loss or harm.
Once your eligibility has been confirmed, the next step is to apply for a Facebook settlement check. Although the application process might differ from settlement to settlement, it often requires giving comprehensive information about your claim.
How to Get Money from the Facebook Settlement
To get any money, a claim must be made. You won’t get paid if you don’t submit one. Additionally, if you were contemplating it, you cannot sue Facebook on your own for the same invasion of privacy. You must complete a brief form to begin the procedure.
You have two options for filing: online or through mail. If you currently use Facebook, you should have also seen a notice on the app or website with a link to the settlement page and instructions.
To confirm your account, you will need certain important details, such as your email address, phone number, username, or user ID. You must include payment information on the form in order to get paid.