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Facebook will pay $550 million to settle class action lawsuit over privacy violations

Mimi Sabreena 9:24:00 AM Business

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Facebook will pay over half a billion dollars to settle a class action lawsuit that alleged systematic violation of an Illinois consumer privacy law. The settlement amount is large indeed, but a small fraction of the $35 billion maximum the company could have faced. Class members — basically Illinois Facebook users from mid-2011 to mid-2015 …

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