SOCIAL NETWORK Facebook has had its $20m privacy settlement package for disgruntled users approved by a US judge.
The lawsuit was brought in 2011 by a group of users who were angered by the use of their images in sponsored Facebook posts without their permission.
Facebook proposed the settlement last year, doubling the original amount from $10m to offer compensation, legal fees and money for charities relevant to privacy issues after its initial $10m deal was rejected.
This proposal has now been approved, according to Reuters, after Judge Richard Seeborg wrote on Monday that the offer, "while not incorporating all features that some of the objectors might prefer, has significant value."
We contacted Facebook for comment but had received no reply at the time of publication.
The decision is another piece of good news for Facebook after its share price returned to its original $38 flotation value at the end of July. The share price previously plummeted to $17 per share in September 2012, less than half of the initial price.
The rebound in the share price came on the back of strong financials, particularly with regards to mobile advertising, as investors began to see long-term value in the firm.
Facebook recently bought speech translation firm Mobile Technologies in a move to enhance the voice capabilities of its website for mobile users, as the company seeks to empower more people than ever before to get online. µ
Tags: Social Media
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