In a climax to a saga that’s riveted the nation, a California federal judge has given the green light to a monumental $725 million settlement over the notorious Cambridge Analytica data breach linked to Facebook.
Imagine a room full of files containing personal details of over 200 million people – all misused. That’s the gravity of the Cambridge Analytica scandal where personal data from 87 million unsuspecting Facebook users was clandestinely sold, later being linked to political campaigns like former President Donald Trump’s 2016 endeavor.
$725M Meta Privacy Deal : Meta’s Day of Reckoning
Sealing Meta Platforms Inc.’s fate, U.S. District Judge Vince Chhabria confirmed the multi-million-dollar settlement this Tuesday. The class, representing millions of affected Facebook users, had preliminarily settled with Meta last December. Painting the magnitude of this verdict, consider it akin to David taking down Goliath in the tech arena.
From this colossal fund, lawyers championing the cause will pocket nearly $181 million in fees and an additional $4 million for costs. It’s like the attorneys planting a flag on a mountain of gold after a long-fought battle.
