Facebook’s corporate parent has agreed to pay $725 million to settle a lawsuit alleging the world’s largest social media platform allowed millions of its users’ personal information to be fed to Cambridge Analytica. Know more:
. Even though Facebook’s growth has stalled as more people connect and entertain themselves on rival services such as TikTok, the social network still boasts about 2 billion users worldwide, including nearly 200 million in the US and Canada.
The lawsuit, which had been seeking to be certified as a class action representing Facebook users, had asserted the privacy breach proved Facebook is a “data broker and surveillance firm,” as well as a social network., just a few weeks before a Sept. 20 deadline for Meta CEO Mark Zuckerberg and his long-time chief operating officer, Sheryl Sandberg, to submit to depositions.
The company based in Menlo Park, California, said in statement Friday it pursued a settlement because it was in the best interest of its community and shareholders. “Over the last three years we revamped our approach to privacy and implemented a comprehensive privacy program,” said spokesperson Dina El-Kassaby Luce. “We look forward to continuing to build services people love and trust with privacy at the forefront.”
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