09:21:40 EDT Sat 18 May 2024
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or Name
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CA



Meta CDR (CAD Hedged)
Symbol META
Shares Issued 5,550,000
Close 2024-01-12 C$ 21.11
Market Cap C$ 117,160,500
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Globe/CP say Meta aims to settle suit in four provinces

2024-01-12 08:24 ET - In the News

The Globe and Mail reports in its Friday, Jan. 12, edition that Meta is offering $51-million to settle a class-action lawsuit in four Canadian provinces over the use of some users' images in Facebook advertising. A Canadian Press dispatch to The Globe reports that the legal action filed by a B.C. woman claimed her image and those of others were used without their knowledge in Facebook's "sponsored stories" advertising program, which is no longer in operation. MNP Ltd., the court-appointed administrator handling the proposed settlement, says the agreement needs to be approved by a B.C. Supreme Court judge in March. The lawsuit was expanded outside of B.C. in 2019 to include residents of Saskatchewan, Manitoba, and Newfoundland and Labrador. Sponsored stories ran from January, 2011, to May, 2014. "The proposed settlement provides that Facebook will pay the all-inclusive sum of $51-million in exchange for a full and final release by the class of all claims," MNP said on Thursday. Lawyers estimate 4.3 million people who had their real name or photo used in a sponsored story could qualify as part of the Canadian settlement. Anyone who wants to object to the proposed settlement has until March 11.

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