Facebook to settle advertiser lawsuit for $40 million

FILE - This Wednesday, March 21, 2018, file photo shows the Facebook logo on a smartphone in Ilsan, South Korea. Facebook has agreed to pay $40 million to advertisers who said it inflated the amount of time its users watched videos. (AP Photo/Ahn Young-joon, File)

OAKLAND, Calif. — Facebook has agreed to pay $40 million to advertisers who said it inflated the amount of time its users watched videos.

The San Jose Mercury News says the California-based social media giant denied any wrongdoing in a lawsuit settlement. The settlement notice was filed Friday by the plaintiffs in Oakland federal court.

Advertisers sued Facebook in 2016 over user metrics that supposedly measured the average length of time consumers spent viewing posted video ads. The lawsuit said that the time was inflated by up to 900 percent and that helped convince advertisers to buy Facebook's video advertising services.

Facebook publicly acknowledged an error in the formula. The company denied allegations that its engineers knew about problems for more than a year and did nothing.

Must Read

Italy, German, French eye beefed up EU defense after attacks

Aug 22, 2016

The leaders of Italy, France and Germany vowed Monday to improve European-wide security efforts in...

Mylan boosts EpiPen patient programs, doesn't budge on price

Aug 25, 2016

Mylan, now in the crosshairs over severe price hikes for its EpiPen, says that it going to expand...

Russia downplays conflict with US over Syria weapons report

Aug 25, 2016

Russia's UN ambassador said Thursday there doesn't have to be a confrontation with the United...

Scams & waste loom as charity millions donated after Orlando

Aug 28, 2016

The more than 430 fundraisers posted on the GoFundMe website after the mass shooting at an Orlando...

Why the EU's tax probe of Apple and others is raising US ire

Aug 30, 2016

The European Union's crackdown on corporate tax avoidance has landed on Apple with its demand that...

Weather, 20 December
Houston Weather
+7

High: +11° Low: -2°

Humidity: 83%

Wind: NNE - 7 KPH

Canberra Weather
+27

High: +27° Low: +17°

Humidity: 87%

Wind: W - 20 KPH

Roissy-en-France Weather
+6

High: +6° Low: -5°

Humidity: 87%

Wind: ENE - 7 KPH

Florence Weather
+9

High: +9° Low: +6°

Humidity: 97%

Wind: ENE - 17 KPH

Parga Weather
+7

High: +16° Low: +4°

Humidity: 100%

Wind: SE - 25 KPH