Judge Richard Seeborg of the U.S. District Court for the Northern District of California has approved Facebook's proposed settlement in a class-action lawsuit involving its now defunct Beacon behavioral tracking service.
According to Computerworld, in exchange for the lawsuit being dropped, Facebook will pony up $9.5 million to set up a privacy foundation to fund projects promoting online privacy. The judge called the settlement "fair, reasonable, adequate and proper and in the best interests of the Settlement Class."
Privacy advocates argue that the settlement does nothing to compensate victims whose privacy may have been compromised by Beacon. But Judge Seeborg rejected the notion that class members were due any monetary compensation, saying that even if the case did go to court, the chances of class members getting any compensation are "speculative at best."