Facebook is paying out $20 million (R208,899,974) in damages to users who had their personal details used in ads on the site.

Even though the details of 150 million Facebook users were used in sponsored stories, only the 614,000 who responded to an email earlier this year will be getting compensation. In a settlement reached on Monday, each user will receive $15 (R156) in compensation.

Sponsored Stories are the advertisements masquerading as updates on your timeline, featuring products your friends have “liked.”

The US District Judge Richard Seeborg also ruled that Facebook must make changes to its “Statement of Rights” and give users more information and control over their privacy in the future.

According to the lawyers of the plaintiffs, this will cost Facebook 145 million (R1,514,524,815) in advertising revenue.

A spokesperson for Facebook said:

We are pleased that the settlement has received final approval

[Source: BBC]