By P.R. Venkat

Meta Platforms Inc. and its users have agreed to settle a class action suit for $725 million, the largest settlement ever of a privacy class action in the U.S, according to counsel for the class-action plaintiffs.

"Today, plaintiffs filed a motion seeking preliminary approval of the settlement," counsel for plaintiffs Keller Rohrback L.L.P. and Bleichmar Fonti & Auld LLP said in a statement Friday.

The litigation was originally prompted by news in March 2018 that the data-mining firm Cambridge Analytica had harvested information from tens of millions of Facebook users.

The case since expanded to target broader data-sharing practices by Facebook.

Plaintiffs alleged that Facebook granted numerous third parties access to their Facebook content and information without their consent, and that Facebook failed to adequately monitor the third parties' access to, and use of, that information.

Write to P.R. Venkat at venkat.pr@wsj.com

(END) Dow Jones Newswires

December 23, 2022 02:30 ET (07:30 GMT)

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