‘Largest number of claims ever filed’: 17M people validated to receive Facebook settlement payment::The administrator in charge of vetting claims has received more than 28 million applications for a payment, said Lesley Weaver, co-lead counsel for the plaintiffs in the case.
I really don’t like how class actions work. The payouts are almost always a pittance. If the judicial system really wanted to use them as a deterrent for shitty companies doing shitty things to large groups of people, class action damages should be structured such that every claimant gets $N… and the upper limit of valid claimants is not limited, though those claimants would still be subject to validation and verification. This would have the express intent of exposing a company to immediately catastrophic and unrecoverable financial damage.
Edit: and in terms of payout priority, the claimants should automatically go to the head of the line - before investors, shareholders, executives, employees, contractual obligations, etc. The process should be intentionally disruptive, painful, and harmful. The deterrent intent of the policy would be not only to provide catastrophic consequences for people and corporations who engage in broadly harmful and predatory activities, but also to strongly discourage anyone from doing business with entities like that.
There are a lot of problems with capitalism, but for all its flaws, I do still think that it can provide some good influences under the appropriate circumstances and constraints. This should be one of the constraints. Capitalism should not reward those who maliciously exploit populations in a systematic, malicious, amoral, and unsustainable fashion.
It’s not a deterrent, it’s a business expense. I bet it’s even tax deductible.
I added some clarification.
What I mean is that the process should be intentionally and purposefully catastrophic for the company in question, while providing victims the maximum possible recourse, in a financial sense.
And further, to incentivize the government to actually regulate and police shitty corporations so that they don’t get into that insane and catastrophic situation, the US government would become the guarantor for claimant payouts once the corporation becomes insolvent. I realize I’m handwaving a good bit, but I think a system something like that could act as an effective forcing function to steer corporate governance in a more ethical and sustainable direction - not just in the US, but worldwide.
I’m with ya but I think a distinction should be made for non-exempt, hourly employees, just to fuck with their exploitation equation in how to properly fuck someone to economic death.
Good point, and yes, I agree.
But think of all the poor investors? Should they be punished for simply investing in an obviously evil company?
Uh… yes. Yes they should.
And by “poor” I assume you mean “unfortunate” (and sarcastically at that), not “impoverished”
I don’t know how the process worked exactly, but Nvidia had to payout $30 per card for the false advertising on the GTX 970. (In my head, I totally remember getting $100 per card for each mine and my wife’s, but the internet says it was $30. 🤷)
Please hand over even more of your personal data so you can receive an ever decreasing amount of money.
Yeah, the money each claimaint will get is not worth the amount of personal information you have to give to yet another entity that will process it. I tried going through the claim but stopped halfway when the form started asking a ton of info I wasn’t comfortable giving out to a 3rd party website.
$30?? What a fucking joke
Did you get your personal data stolen through the equifax breach? I got about $8. The total settlement was $30 million iirc. Equifax reported $209 million in earnings last quarter.
These settlements aren’t meant to punish the culprit. They’re paltry excuses for justice by a system that will enrich the attorneys involved in the case, allow the company to make back their losses in literal days with no real punishment, and leave those actually by impacted their negligence with pennies.
I’d be happy with $8.
I was offered a year of credit monitoring. When I told them fuck off with that offer they decided I wasn’t part off the affected class.
Perhaps you’d like to detail your actual damages?
Well, I’ll be getting $0 since I just heard about this. Guess they couldn’t be bothered reaching out to Facebook users.
I saw it in several news outlets. That’s how I found out that I needed to register.
They were literally running ads on facebook. For about a month it was all I saw.
Why don’t you damage deez nuts
This is the perfect response
This is the best summary I could come up with:
(NEXSTAR) – The number of claims filed in the $725 million Facebook privacy settlement may constitute the largest class in a lawsuit in U.S. history, lawyers said in a San Francisco court Thursday.
The administrator in charge of vetting claims has received more than 28 million applications for a payment, said Lesley Weaver, co-lead counsel for the plaintiffs in the case.
Essentially, an administrator is appointed by the court to set up the settlement website, look at claimants’ information, verify they’re eligible, and send them what they’re due.
That makes predicting the exact amount you’ll receive difficult to do in advance, but class counsel estimated a median payment size of $30 when speaking in court on Thursday.
Judge Vince Chhabria gave the lawyers representing the plaintiffs another week to file some additional documents with the court.
Facebook parent company Meta agreed to pay the sum to settle claims it allowed people’s personal data to be shared with third parties.
The original article contains 430 words, the summary contains 159 words. Saved 63%. I’m a bot and I’m open source!
