Facebook users who had an account at any time from May 2007 to the end of last year can now apply for their share of a $725 million privacy settlement that the platform’s parent company, Meta, agreed to last December.
MICHELLE FRANZEN: Alexis, first of all, jog our collective memories on this lawsuit and how it impacted Facebook users at the time.
CHRISTOFOROUS: Well, I think we all hear $725 million and our ears perk up because that sounds like a lot of money. But the fact is, when you divvy it up amongst millions and millions of people, it's not that much money anymore.
CHRISTOFOROUS: It was, so, I mean, you would imagine that, you know, many, many millions of people, tens of millions of people. I mean, according to Facebook, its 87 million users had their information improperly shared with these third parties. So many millions of people could claim this money. And so the more people that tried to claim it, the less amount you would get. I mean, if all 87 million people tried to get a piece of the pie, you know, you'd probably walk away with about $8.
FRANZEN: And Alexis, this is a pretty big settlement, nearly as big as the $787.5 million dollars that Fox News just agreed to settle in a lawsuit by Dominion Voting Systems. Of course, Dominion alleging Fox knowingly pushed false claims about its voting machines during the 2020 election. What do these settlements signal as we turn the corner to the next general election?
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