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Meta to Pay $725 Million to Settle Cambridge Analytica Lawsuit: Report

The lawsuit was filed in 2018 after Facebook disclosed that it had harvested the information of around 87 million users.

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Facebook's parent company Meta has agreed to pay $725 million (roughly Rs. (Rs. 5,990 crore) to settle a class action lawsuit that accused the company of sharing users' personal data with the political consultancy firm Cambridge Analytica, American technology publication The Verge reported.

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"The proposed Settlement of $725 million 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," Keller Rohrback, the law firm representing the plaintiffs, said in a court filing late Thursday.

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The lawsuit was filed in 2018 after Facebook disclosed that it had harvested the information of around 87 million users and shared it with Cambridge Analytica, a political consultancy firm linked to the 2016 campaign of former President Donald Trump.

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The consultancy reportedly used the data for the purpose of voter profiling and targeting political advertising.

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The court filing states that "Facebook has meaningfully changed the practices that gave rise to Plaintiffs' allegations" and "meaningfully enhanced its ability to restrict and monitor how third parties acquire and use Facebook users' information."

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The proposed settlement does not admit any wrongdoing and must still be approved by a judge in the Northern District of California.