Millions of people were eligible to file their own claim in a recent 2023 lawsuit against Facebook, and now it appears as if it's time for people to finally receive their own share of the staggering $725,000,000 settlement pot.

It's always worth signing up for compensation from class action lawsuits if you're eligible, as even a small fraction of an overall larger compensation pool is better than nothing if you've fallen victim to the issue at hand.

Owners of Apple devices have had a number of opportunities to earn some cash as a result of legal cases, and previous decisions have seen upwards of $700 available to PlayStation gamers under the right circumstances.

One recent legal case has seen social media giant Facebook have to pay out a settlement worth over $725 million, and if you managed to sign up then your portion of the fund could arrive imminently.

Why does Facebook have to pay out $725 million?

As reported by CBS News, the lawsuits that resulted in a payout worth $725 million all surrounded claims that Facebook improperly handled and shared the information of its users with third-party sources like advertisers and data brokers.

It originally stemmed from the Cambridge Analytica scandal back in 2018, where user data was scraped from the social media platform in an attempt to profile potential voters in the United States, although Meta has denied any wrongdoing in this particular instance.

How to receive your payment from the settlement

If you have managed to sign up then you should have received an email from the 'Facebook User Privacy Settlement Administration', which has a specific email address of [email protected], so make sure you check its from the legitimate source.

The email itself will include your claim ID number and confirm that your claim has been successful, and payments will begin to be sent over to eligible individuals over the next 10 weeks.

It won't necessarily take that long for you to get the money as some people have already reported having the funds arrive in their bank accounts, and it is expected that you'll receive another email around three to four days before your payment is officially sent.

Average payments appear to be ranging between $29.43 and $38.36, which might seem small relative to the massive overall compensation, but anyone who had used Facebook in the last 15 years was eligible so that certainly spreads the money quite thin.

It appears as if the length of time you have had a Facebook account directly correlates with the amount of money you receive, so those who have had one for the entire 15 year period of eligibility are likely to receive that aforementioned $38.36 maximum.

Can you still sign up for settlement?

Unfortunately there is no way for anyone else to submit their claim for eligibility at this point, as the application process officially closed all the way back in August 25, 2023.

Anyone who had managed to submit before that deadline was reached should have received an email confirming their eligibility for compensation, and if you haven't received anything then there's a strong likelihood that you've missed out.