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

Invalid Date by CNN

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.

Click To Read Full Article

ORGANIZATION
MONEY
CRYPTOCURRENCY
PRODUCT
PERSON
GEOGRAPHY
GROUP
LOCATION
MISCELLANEOUS

This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2021 Kwhen Inc.

Was this content valuable for you?