Meta will pay a record $725 million in the case of illegal transfer of personal data
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Meta (described as extremist and banned in Russia) has agreed to pay $725 million to settle a long-standing lawsuit over the illegal transfer of user data to research company Cambridge Analytica, writes Bloomberg.
“This amount of damages is the largest ever reached in a class action data privacy lawsuit. Facebook (owned by Meta, which is recognized as extremist and banned in Russia) has never paid such an amount to settle a private class action lawsuit, ”the plaintiffs said.
We are talking about a lawsuit filed by Facebook users in 2018 after it became known that the British Cambridge Analytica, which was associated with the presidential campaign of Donald Trump in 2016, had access to the data of 87 million subscribers of the American social network. Bloomberg writes that Meta’s agreement to pay the aforementioned refund requires the approval of a federal judge. According to the agency, this decision of the company brings it one step closer to settling this case. In 2018, Cambridge Analytica was closed.
Meta said in a statement that the company sought to resolve the conflict as it is in the “interest of the community and shareholders.” However, over the past three years, Meta has redefined its approach to user privacy and has implemented a comprehensive program to protect sensitive information.
Bloomberg reports that in August, Meta agreed to settle the Cambridge Analytica case, but the specific terms were not disclosed at the time.
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