1. Home
  2. Tech

Including Cambridge Analytica… Meta agreed to pay $725 million! #Tech #Technology #technews

Including Cambridge Analytica… Meta agreed to pay $725 million!
 #Tech #Technology #technews
0

The Cambridge Analytica accusations, one of the most remarkable events in Facebook’s history, caused a global crisis. There has been an important development in this regard. Meta Platforms Inc, owner of Facebook, Instagram and WhatsApp, has agreed to pay $725 million to close a class action lawsuit accusing third parties, including Cambridge Analytica, of accessing users’ personal information.

It was stated that the class action, which began in 2018 when it was revealed that London-based data analysis firm Cambridge Analytica had allowed up to 87 million users to access their data, will end with a settlement in the court.

“HIGHEST PAYMENT AGREEMENT HE EVER PAYED TO FINALLY FINALLY CLASS ACTION”

The $725 million settlement that Meta Platforms Inc has agreed to pay to close the class action will be submitted to federal court approval.

Regulatory authorities in the USA and Europe launched an investigation about Facebook, and after the developments, the shares of the famous social networking site lost great value.

Facebook Chief Executive (CEO) Mark Zuckerberg testified in the US Senate on April 11, 2018 regarding the company’s data leak scandal.

2018-03-21T105751Z_600229562_RC1C17A29580_RTRMADP_3_FACEBOOK-CAMBRIDGE-ANALYTICA

In April 2018, the data analysis firm Cambridge Analytica, based in London, collected the personal data of Facebook’s 87 million users without permission, to influence the presidential elections in the USA in November 2016 and the European Union (EU) referendum in June 2016 in the UK. The accusations that he was using it for

In the statement made by Meta, it was stated that no crime was accepted in the settlement for the case in question. The statement stressed that the deal “is in the best interests of our community and our shareholders”.

FILE PHOTO: Woman holds smartphone with Meta logo in front of a displayed Facebook's new rebrand logo Meta in this illustration picture

The $725 million settlement that Meta Platforms Inc has agreed to pay to close the class action will be submitted to federal court approval.

Lawyers for the plaintiffs described the proposed settlement as the largest ever reached in a privacy class action lawsuit in the United States and the highest-paying settlement Meta has ever paid to settle a class action lawsuit.

WHAT HAPPENED?

In the statement made by Meta, it was stated that no crime was accepted in the settlement for the case in question. The statement stressed that the deal “is in the best interests of our community and our shareholders”.

Source link

Write a Comment