Facebook Users Find Excellent Value in $550 Million Privacy Deal
- Lawyers call deal largest privacy settlement in U.S. history
- Judge had questioned whether the settlement was sufficient
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Facebook Inc. users asked a judge to approve a $550 million settlement in their class-action lawsuit that claimed the social-media giant illegally gathered biometric data through a photo-tagging tool.
The class members will get from $150 to $300, or between 15% and 30% of the possible recovery on an individual claim, according to their lawyers. The settlement provides “excellent value” and “dwarfs every previous settlement” in a U.S. consumer privacy class-action suit, the lawyers said in a filing Friday.