Facebook is to pay damages in order to make up for the data breach caused by its grant of access to the data of a million Facebook users to Cambridge Analytica, the London-based consulting firm.
The 2018 scandal was brought into the public eye by a whistleblower who formerly worked for the organization, Mr. C. Wylie. The British newspaper, the Observer, covered the first-ever report of the incident.
Meta, Facebook’s parent company has settled on an undisclosed amount to be paid as punitive damages for the data breach caused by Facebook, through CA.
Cadwalladr: Facebook settles case just days away from Zuckerberg being cross-examined under oath for six hours as he's desperate to avoid answering questions on Facebook’s cover-up of the Cambridge Analytica data breach. https://t.co/LHufaP2oHi— Brexitshambles (@brexit_sham) August 28, 2022
The scandal had earlier required Facebook CEO, Mr. Mark Zuckerberg to appear before Congress and testify. A hefty fine of multi-billion pounds was also paid by the company. The scandal caused the share prices of Facebook to fall drastically.
However, there seems to be certain dissatisfaction among the public as the Chief Operating Officer, Sheryl Sandberg, who is all set to leave Meta, will not be required to participate in the questioning now that a settlement has been reached.
An additional lawsuit was filed last year alleging that Facebook has paid more than $4 Billion to the Federal Trade Commission to cover up the scandal and save Zuckerberg’s reputation.
The $5 Billion(almost) paid to the Federal Trade Commission was spent to protect Mark’s reputation from being ruined by being mentioned in the complaint lodged by the FTC.
The magnitude of the lawsuit and the settlements could be gauged by the fact that the number of subscribers affected by this privacy and data breach goes up to 87 Million.