Meta to settle Cambridge Analytica privacy suit for $725M

National Public Radio reports that Meta has agreed to settle for $725 million in a class-action lawsuit relating to alleged improper data sharing with analytics firm Cambridge Analytica, which may have compromised data from up to 87 million Facebook users. Such proposed settlement is the largest ever for a data privacy class action and the highest payment that Facebook has to pay for a private class action, according to the plaintiffs' lawyers, who noted that nearly 250 million to 280 individuals may be eligible to receive payments. "The amount of the recovery is particularly striking given that Facebook argued that its users consented to the practices at issue, and that the class suffered no actual damages," the plaintiffs' lawyers added. Despite the settlement, Meta noted that it did not have any wrongdoing in relation to the breach and that proper consent has been given by the users for the data collection. Final approval for the settlement is expected on Mar. 2, 2023.