Meta settles Cambridge Analytica class-action lawsuit for $725 million / The company gained access to the personal information of millions of Facebook users

TL;DR

Parent company Meta has agreed to pay $725 million to settle a long-running class-action lawsuit accusing Facebook of allowing Cambridge Analytica and other third parties to access users' private information, Reuters reports.The settlement resolves user claims that Facebook violated federal and state laws by allowing the company's preferred vendors and partners to harvest their personal data without consent.Meta admitted no wrongdoing as part of the settlement, which is still subject to approval by a federal judge.In 2019, Facebook agreed to pay a $5 billion fine following a Federal Trade Commission investigation and $100 million to settle US Securities and Exchange Commission claims.It also paid £500,000 (about $644,000) in fines to the UK, a pittance compared to what it would have paid had the GDPR been in place when the scandal occurred."

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