Meta will pay $725 million to settle a privacy lawsuit that accused Facebook of...
source link: https://finance.yahoo.com/news/meta-pay-725-million-settle-122004044.html
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
Meta will pay $725 million to settle a privacy lawsuit that accused Facebook of sharing users' data with consulting firm Cambridge Analytica
Meta has agreed to pay $725 million to settle the Cambridge Analytica privacy lawsuit.
The suit was filed in 2018 and accused Facebook of illegally sharing user data with the firm.
Meta agreed to settle in August and a month later, Mark Zuckerberg was called to a deposition.
Meta has agreed to pay $725 million to settle a privacy lawsuit that accused Facebook of illegally sharing user data with a political consulting firm.
The settlement is "the largest recovery ever achieved in a data privacy class action and the most Facebook has ever paid to resolve a private class action," lawyers for the plaintiffs said in a court filing on Thursday.
The class-action lawsuit was originally filed in 2018 by Facebook users in California. It came after Facebook revealed it had exposed the data of 87 million users to Cambridge Analytica.
Cambridge Analytica gathered personal information about millions of Facebook users through an external app in 2015. Users took a personality quiz that pulled data from them and their friend's profiles.
Details included their locations and pages they liked, helping the firm to build a psychological profile of users.
Donald Trump's presidential campaign worked with Cambridge Analytica staffers in 2016, per reports.
Facebook was hit with a $5 billion fine in 2019 by the Federal Trade Commission over the scandal. The tech company had been accused of violating a 2012 agreement with the commission in which it promised not to give third parties access to user data without consent.
Facebook has tightened its policies since the case and stopped giving third parties access to data about users through friends, the court filing said.
Meta agreed to settle the lawsuit in August and a month later Meta CEO Mark Zuckerberg was called to a six-hour deposition about Cambridge Analytica.
"We pursued a settlement as it's in the best interest of our community and shareholders," A spokesperson at Meta said to Insider. "Over the last three years we revamped our approach to privacy and implemented a comprehensive privacy program. We look forward to continuing to build services people love and trust with privacy at the forefront."
Lawyers for the plaintiffs told Insider they could not respond further beyond what was in their press release.
Read the original article on Business Insider
ReutersRussia ready to resume gas supplies to Europe via Yamal-Europe pipeline -Novak
"The European market remains relevant, as the gas shortage persists, and we have every opportunity to resume supplies," TASS cited Novak as saying in remarks published by the agency on Sunday. "For example, the Yamal-Europe Pipeline, which was stopped for political reasons, remains unused." The Yamal-Europe Pipeline usually flows westward, but has been mostly reversed since December of 2021 as Poland turned away from buying from Russia in favour of drawing on stored gas in Germany.
12h ago
Fox BusinessMcDonald's unveils first automated location, social media worried it will cut 'millions' of jobs
Some users worried the technology will end up cutting "millions" of jobs, but McDonald's argued the system helps restaurant crews focus on speed and accuracy in food prep.
2d ago
TheStreet.comComcast Customers Face a Huge Holiday Data Breach
First a price hike, then Comcast customers got an unwanted present for the holidays (how to know if you are impacted).
2d ago
The TelegraphNumber of over-50s on zero hours contracts soars to record high
The number of over-50s working in zero-hours contracts has surged to a record high, new data has shown.
4h ago
TheStreet.com4 Stocks You Can Buy on Sale Right Now
Some of the biggest names in the world had a lousy year which makes them perfect additions to your portfolio.
20h ago
BloombergOil Passes Natural Gas as Main Fuel for Power Plants in New England
(Bloomberg) -- Oil took over from natural gas as the leading fuel for power plants in New England, a significant switch that signals how the grid is desperately trying to keep the lights on in the face of a winter massive storm.Most Read from BloombergElon Musk Warns Against Margin Debt on Risk of Market ‘Mass Panic’Russia May Raise Crude Oil Exports if EU Ban Cuts RefiningWorld Economy Is Headed for a Recession in 2023, Researcher SaysBest Nonfiction of 2022: Great Books That Will Make You Thin
1d ago
TheStreet.comIf You're Ready to Retire, Consider These Cities
Storage Café has put together a ranking of the largest 100 metropolitan areas, according to which are best for retirement.
2d ago
BloombergChina Banks Rush Traders Back to Office Amid Covid Disruptions
(Bloomberg) -- Some Chinese financial institutions are rushing employees back to office as surging absences of traders and other key personnel over the past week amid the nation’s massive Covid-19 outbreak start to disrupt operations. Most Read from BloombergElon Musk Warns Against Margin Debt on Risk of Market ‘Mass Panic’Russia May Raise Crude Oil Exports if EU Ban Cuts RefiningWorld Economy Is Headed for a Recession in 2023, Researcher SaysBest Nonfiction of 2022: Great Books That Will Make Y
5h ago
Insider Monkey15 Most Hated Companies in America
In this article, we will be taking a look at the 15 most hated companies in America. To skip our detailed analysis, you can go directly to see the 5 most hated companies in America. In an ideal world, companies would be supported by the general population. After all, the economy of a country defines […]
1d ago
Motley FoolPassive Income in a Bear Market? 1 Stock Warren Buffett Bought
This company has grown its dividend for over three decades and can continue delivering in this bear market.
2d ago
LifehackerYou Should Get In on T-Mobile's $350 Million Settlement
Back in July, T-Mobile agreed to pay out $350 million to settle a class-action lawsuit brought by a number of the company’s customers over a 2021 data breach. At this point, it’s still possible to claim a piece of the payout, but time is running out. Here’s what to know.
18h ago
SmartAssetHow to Have a Comfortable Retirement by 62
Age 62 is the first year you're eligible for Social Security, but your benefit amount will lower. We go over how to retire comfortably at 62.
2d ago
Cape Cod TimesProvincetown opens warming station, as power outages, cold weather linger
With low temperatures, outages, warming station opened in Provincetown Saturday.
2d ago
GOBankingRates27 Most Lucrative Side Gigs for People Over 50
If you think the side hustle was born to serve the millennial generation, that might be true. Everywhere you turn these days, it seems like millennials -- ages 23 to 38 -- have at least one...
15h ago
Insider Monkey12 Most Advanced Countries in Africa
In this piece, we will take a look at the twelve most advanced countries in Africa. For more countries, head on over to 5 Most Advanced Countries in Africa. Africa is one of the richest continents in the world when it comes to natural resources. The continent has vast resources of valuable metals such as […]
1d ago
InvestopediaFeatures and Benefits of Sep IRAs and Roth IRAs
There are a variety of individual retirement accounts (IRAs) on the investment landscape these days. The contribution limit is 25% of compensation or $61,000 for 2022 ($66,000 for 2023), whichever is less. For a sole proprietor, the contribution limit is 20% of the sole proprietor's adjusted net business income.
5h ago
Motley FoolSuze Orman Says This Retirement Account Gives You 'Emergency Flexibility.' Here's What She Means
Meanwhile, it's also an important thing to save for retirement. Now, there are a number of different tax-advantaged retirement plans you can use to save for the future. You could put money into a traditional IRA and get a tax break on your contributions.
2d ago
GOBankingRatesWow Your Job Interviewer by Asking These 10 Questions
At the end of a job interview, it's likely your interviewer will ask you if you have any questions for them -- and if you don't ask anything, this could be seen as a sign of disinterest. It's...
1d ago
Associated PressSpending bill aids retirees, and boosts financial industry
A section of the $1.7 trillion spending bill passed Friday has been billed as a dramatic step toward shoring up retirement accounts of millions of U.S. workers. The retirement savings measure labeled Secure 2.0 would reset how people enroll in retirement plans — from requiring them to opt into plans, to requiring them to opt out. It also allows workers to use their student loan payments as a substitute for their contributions to their retirement plans — meaning they can get matching retirement contributions from their employers by paying off that debt — increases the age for required distributions from plans, and expands a tax-deductible saver's credit.
20h ago
TODAYA full list of stores staying open (and closed) on Christmas this year
Got last-minute shopping? Here's a list of supermarkets, pharmacies and retail stores staying open on Christmas Day along with their modified holiday hours.
2d ago
Recommend
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK