May 20 - Facebook Could Owe All Users 10k

.....waiting for my cut. Thats enough to pay my car off and put a down payment on another one [pic]

why would you buy another car?[pic]

why would you buy another car?[pic]

this would create another housing bubble

[pic]


A Facebook user is suing Facebook for violation of privacy issues. As a class-action suit, the amount the complainant believes Facebook should owe is $15 billion.


It’s sometimes scary to think about just how much of your personal information Facebook holds. Too much, apparently, for a Facebook user who is suing the company in a class-action suit over violating its users’ privacy. Facebook is being accused of tracking data on its users even after users have logged out of the site.

“This is not just a damages action, but a groundbreaking digital-privacy rights case that could have wide and significant legal and business implications,” said David Straite, a partner at Stewarts Law, in an emailed statement to Bloomberg.

This lawsuit, filed on the 17th in San Jose, California, includes 21 other lawsuits also accusing Facebook of invading user privacy. According to the filing, by the U.S. Wiretap Act every Facebook user is owed up to $10,000 for over $100 per count of violation. Between Facebook’s over 800 million users, that’s somewhere in the ballpark of $15 billion that Facebook would owe. Considering Facebook’s impressive IPO, it’s… probably not entirely out of the realm of possibility, but $15 billion is a hard figure to swallow.



4:00 AM - May 20, 2012 - By Catherine Cai - Source : Venturebeat