Facebook will pay over half a billion dollars to settle a class action lawsuit that alleged systematic violation of an Illinois consumer privacy law.

Facebook has settled a lawsuit over facial recognition technology, agreeing to pay $550m (£419m) over accusations it had broken an Illinois state law regulating the use of biometric details. Facebook agrees to pay $550 million to settle privacy lawsuit, days after Supreme Court declined to hear case The lawsuit involved an Illinois law that requires companies to … Facebook faces the largest cash settlement ever in resolving a privacy related lawsuit summing to an astounding $550 million. Facebook just lost a battle in its war to stop a $35 billion class action lawsuit regarding alleged misuse of facial recognition data in Illinois. Facebook shares plummet after $550 million privacy settlement Facebook shares fell as trading opened Thursday, on the heels of the company's … As part of the agreement, Facebook will now re-examine the ways it handles user data, but the settlement will not restrict the company’s ability to share data with third parties, reports said. A U.S. judge on Monday granted final approval to Facebook's $20 million settlement of a lawsuit over targeted advertising despite objections that … Facebook’s recent $550 million settlement of a class-action lawsuit in Illinois over alleged privacy violations may lead to a wave of privacy legislation across the country.. Facebook’s chief financial officer in a fourth-quarter earnings call Wednesday revealed the company has reached a $550 million settlement in principle in connection with a class-action lawsuit it faced in Illinois over violations of a state biometric law. The largest-ever cash settlement resolving a privacy-related issue will establish a fund to be shared by Illinois Facebook …