Tech UPTechnologyAfter four years of lawsuit against Facebook for violation...

After four years of lawsuit against Facebook for violation of privacy, the technology company will reach an agreement

Facebook, a company owned by Meta, accepted an out-of-court settlement to compensate damages indicated in the class action lawsuit against it, for allowing third parties to access users' private data (including the Cambridge Analytica case).

Therefore, in the following 60 days, the legal resource will be suspended, so that the legal team of the company and the plaintiffs can reach an agreement, they declared on Friday, August 26.

The financial terms have not yet been disclosed, but after the end of the agreed period, the policies will be in a written agreement that will be delivered to the judge.

The lawsuit against Facebook has been ongoing for four years. In it, it is argued that the company violated privacy laws by sharing consumers' personal information. The company alleges that its practices do not support any type of legal claim.

Meta Platforms stock falls to 6-year low on metaverse spending

The parent company of Facebook and Instagram lost about $89.204 million in market value to the Metaverse.

The metaverse does not take off and Meta shares fall 14%

Reality Labs, the division focused on developing lenses and software for the metaverse, lost $36.7 billion.

Goodbye: Meta has just been forced to sell Giphy

The American giant was disappointed after the decision of the regulatory bodies in the United Kingdom but accepted the final decision.

Love ends: Zuckerberg admits that enthusiasm for the metaverse will drastically decrease

Although enthusiasm will wane, the entrepreneur remains adamant that this innovation is the next internet age.

Russia against Zuckerberg? Meta en is included in the list of "terrorist and extremist"...

Instagram is very popular in Russia and used to be a key platform for advertising and sales.