• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Erin Brockovich, the activist who defeated a utility giant and inspired a Julia Roberts film, is pushing data centers to be more transparent

2

The Iran conflict has disrupted oil supply. Gulf states are now looking to multi-billion-dollar investments in renewables 

3

Cognizant CEO is swimming against the tide on AI: he's hiring over 20,000 graduates this year and says AI tokenmaxxing is a 'vanity metric'

1

Erin Brockovich, the activist who defeated a utility giant and inspired a Julia Roberts film, is pushing data centers to be more transparent

2

The Iran conflict has disrupted oil supply. Gulf states are now looking to multi-billion-dollar investments in renewables 

3

Cognizant CEO is swimming against the tide on AI: he's hiring over 20,000 graduates this year and says AI tokenmaxxing is a 'vanity metric'
TechMeta

Facebook parent Meta pays record $725 million to settle Cambridge Analytica scandal

By
Joel Rosenblatt
Joel Rosenblatt
and
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Joel Rosenblatt
Joel Rosenblatt
and
Bloomberg
Bloomberg
Down Arrow Button Icon
December 23, 2022, 10:03 AM ET
Mark Zuckerberg, chief executive officer of Meta
Facebook had argued it disclosed its practices in user agreements.David Paul Morris—Bloomberg/Getty Images

Meta Platforms Inc. has agreed to pay $725 million to settle a long-running lawsuit that claimed Facebook illegally shared user data with the research firm Cambridge Analytica.

It’s “the largest recovery ever achieved in a data privacy class action and the most Facebook has ever paid to resolve a private class action,” the plaintiffs said in a court filing late Thursday.

The settlement brings Meta a step closer to resolving the 2018 suit brought by Facebook users after it was revealed that the UK research firm connected to Donald Trump’s 2016 campaign for president gained access to the data of as many as 87 million of the social media network’s subscribers. The agreement requires the approval of a federal judge overseeing the suit.

Lawyers for the consumers had steadily gained leverage to pry into the company’s internal records to back up their claims that Facebook failed to safeguard their personal data. Facebook’s parent company could have been on the hook for hundreds of millions of dollars more had it gone to trial and lost the case.

“We pursued a settlement as it’s in the best interest of our community and shareholders,” Meta said in an emailed statement. “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.”

Since the case was filed, Facebook has stopped allowing third parties to access data about users through their friends, plaintiffs said in a court filing detailing the settlement. The company has also strengthened its ability to restrict and monitor how third parties acquire and use Facebook users’ information, and improved its methods for telling users what information Facebook collects and shares about them, according to the filing.

Last month, Google agreed to pay a total of $391.5 million to 40 US states to resolve a probe into controversial location-tracking practices in what state officials called the largest such privacy settlement in US history. Separately, a judge last month approved a $90 million Meta deal to settle a suit over the use of browser cookies and Facebook’s “Like” button to track user activity.

Meta said in an August court filing that it had agreed to settle the Cambridge Analytica suit, but no terms were revealed at the time. A filing a month earlier showed Meta Chief Executive Officer Mark Zuckerberg would have to sit for as long as six hours of questioning by plaintiffs’ lawyers. The same filing indicated former Chief Operating Officer Sheryl Sandberg would have to testify as well.

Facebook had argued it disclosed its practices in user agreements. It had also said that anyone sharing their information on a social network shouldn’t count on holding onto their privacy.

Our new weekly Impact Report newsletter examines how ESG news and trends are shaping the roles and responsibilities of today's executives. Subscribe here.

About the Authors
By Joel Rosenblatt
See full bioRight Arrow Button Icon
By Bloomberg
See full bioRight Arrow Button Icon

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

coo
ConferencesCOO Summit
The $18 expense report and the defunded intern programs: symbols of corporate America’s dysfunction
By Nick LichtenbergJune 2, 2026
2 hours ago
Image of $1 bills.
NewslettersEye on AI
AI may already be adding hundreds of billions to the economy—without showing up in the data
By Beatrice NolanJune 2, 2026
4 hours ago
Young man looks sadly at computer at home
Future of Workremote work
Mounting evidence suggests remote work is behind the Gen Z hiring nightmare. Even the New York Fed thinks so
By Tristan BoveJune 2, 2026
5 hours ago
Jason Kidd
ConferencesCOO Summit
Chipotle COO calls hiring one of the ‘most painful processes’—so his AI bot ‘Ava Cado’ cut it from 12 days to 4
By Preston ForeJune 2, 2026
5 hours ago
Francine Katsoudas, EVP and Chief People, Policy and Purpose Officer, Cisco
ConferencesCOO Summit
Should you treat AI agents as colleagues? Fortune 500 executives can’t settle the debate
By Nick LichtenbergJune 2, 2026
5 hours ago
Mark Cuban put $500K into a stranger’s rocket company over email. It’s now a SpaceX competitor worth $4 billion
Startups & VentureMark Cuban
Mark Cuban put $500K into a stranger’s rocket company over email. It’s now a SpaceX competitor worth $4 billion
By Sydney LakeJune 2, 2026
6 hours ago

Most Popular

Erin Brockovich, the activist who defeated a utility giant and inspired a Julia Roberts film, is pushing data centers to be more transparent
Environment
Erin Brockovich, the activist who defeated a utility giant and inspired a Julia Roberts film, is pushing data centers to be more transparent
By Marco Quiroz-GutierrezJune 1, 2026
1 day ago
The Iran conflict has disrupted oil supply. Gulf states are now looking to multi-billion-dollar investments in renewables 
Energy
The Iran conflict has disrupted oil supply. Gulf states are now looking to multi-billion-dollar investments in renewables 
By Melissa HancockJune 1, 2026
1 day ago
Cognizant CEO is swimming against the tide on AI: he's hiring over 20,000 graduates this year and says AI tokenmaxxing is a 'vanity metric'
Conferences
Cognizant CEO is swimming against the tide on AI: he's hiring over 20,000 graduates this year and says AI tokenmaxxing is a 'vanity metric'
By Preston ForeJune 1, 2026
24 hours ago
Current price of oil as of June 1, 2026
Personal Finance
Current price of oil as of June 1, 2026
By Joseph HostetlerJune 1, 2026
1 day ago
'Where we are today is frightening': a Pulitzer-winning historian sees a doomsday scenario involving China and the national debt
Banking
'Where we are today is frightening': a Pulitzer-winning historian sees a doomsday scenario involving China and the national debt
By Nick LichtenbergJune 2, 2026
13 hours ago
Current price of silver as of Monday, June 1, 2026
Personal Finance
Current price of silver as of Monday, June 1, 2026
By Joseph HostetlerJune 1, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.