When will Facebook’s settlement payments be sent? Here’s what we know
(NEXSTAR) – You can submit a claim in just a few minutes for a piece of it massive $725 million Facebook dealbut it will take much longer to get your payout.
Meta, Facebook’s parent company, has agreed to settle the class action lawsuit alleging that the social media network allowed users’ personal information to be shared with third parties. The best known is Cambridge Analytica, a consulting firm that supported Donald Trump’s 2016 presidential campaign.
You do not need to determine if your data was part of the information shared to qualify. The criteria are fairly simple: “If you were a Facebook user in the United States between May 24, 2007 and December 22, 2022, you may be eligible for a cash payment,” the settlement details read.
Claims can be asserted on-line or by mail by August 25, 2023, and the process is fairly quick and easy. However, eligible recipients will not receive their payment shortly.
Following the Claim Period, there is a final settlement hearing scheduled for September 7, 2023 at 1 p.m. Pacific Time. It’s not clear when the exact date the payments will be made, but they could be sent out after the September court date at the earliest.
Even if the judge finally agrees in this hearing, there is still an opportunity to appeal. The billing page warns. Should an appeal come about, it is not clear how long the resolution would take.
“The settlement payments will be made as soon as possible after the court issues final approval of the settlement and after any appeals are resolved,” the settlement page reads.
Once all the necessary steps are completed, the sum will shrink from $725 million quite a bit before it is credited to your bank account. The amount each person receives depends on how long they’ve had a Facebook account, but a Expert told Nexstar He reckoned the top end of payments could be in the “triples into the hundreds,” with many more receiving less than $100.