Students stand to gain from Facebook lawsuit

Students who received an email titled “LEGAL NOTICE OF SETTLEMENT OF CLASS ACTION” may still receive their share of the Facebook settlement.
The email is one result of a lawsuit filed against Facebook involving its sponsored story ads in 2011, in which many users were used to promote products based on things they “liked.”
The class action lawsuit claimed that users’ information, including names and pictures, were used unlawfully to advertise and sell products.
The lawsuit was resolved in December 2012, leading to a $20 million settlement made by Facebook, which aims to divide that number for each class member involved and pay those individuals up to $10 each.
However, just because students sign on does not mean they’ll get any money.
The settlement states that if the number of class members becomes too great, and if the amount paid out would end up totaling less than $5 each, the settlement will instead be distributed to 14 nonprofit organizations.
Using information on Facebook provided by social media statistics website Social Baker, news site Forbes determined that if 3 million of the 125 million users who received the email apply, the settlement will go to the nonprofits.
If that is not too much of a deterrent, students can submit a claim form by following instructions in the email they received.
With the deadline for submitting claims set for May 12, and the fairness hearing scheduled for June 28, only time will tell who or what the settlement goes to.