Meta agrees to pay $725 million to settle lawsuit over Cambridge Analytica data leak

Meta agrees to pay $725 million to settle lawsuit over Cambridge Analytica data leak

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Key Facts

  • This is her story 02:39 Now playing - Source: CNN Business Zuckerberg critical of Apple and App Store practices 04:04 Now playing - Source: CNN Crypto's golden boy says he 'didn't ever try to commit fraud' 01:46 Now playing - Source: CNN Business Former top official at Twitter speaks out after working with Musk 02:53 Now playing - Source: CNN New York CNN — Facebook parent company Meta has agreed to pay $725 million to settle a longstanding class action lawsuit accusing it of allowing Cambridge Analytica and other third parties to access private user information and misleading users about its privacy practices.
  • In the motion to approve the settlement, the users who brought the suit pointed to changes Facebook has made in the wake of the Cambridge Analytica breach, including restricting third-party access to user data and improving communications to users about how their data is collected and shared.
  • The Cambridge Analytica leak began with a psychology professor who harvested data on millions of Facebook users through an app offering a personality test, then gave it to a service promising to use vague and sophisticated techniques to influence voters during a high-stakes election where the winning presidential candidate won narrowly in several key states.
  • Facebook agreed in 2019 to a $5 billion privacy settlement with the US Federal Trade Commission over the privacy breach, and to a $100 million settlement with the US Securities and Exchange Commission over claims that it misled investors about the risks of misuse of user data.

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