If you are a member of Facebook then you've likely received what you probably thought was a scam email. However, those emails notifying you of a a class action lawsuit (Angel Fraley v. Facebook) or completely legit and yes the social network is proposing to pay $20 million into a fund to be used to pay members $10 each.
Angel Fraley v. Facebook is an ongoing legal battle that has been winding its way through the courts since March 2011, when five Facebook members, including two minors, maintained they claimed to represent a class of people injured by the Sponsored Stories. The "Sponsored Stories" are targeted Facebook advertisements that use information about your friends to sell stuff to you.
To settle the proposed lawsuit resulting from those allegations of unlawful use of its members' content, the social network is proposing to pay $20 million into a fund to be used to pay members who appeared in the sponsored stories. For every member that received the legal notice from Facebook the company may be pay you up to $10 as part of the settlement. There’s no guarantee you will get the money, however, it doesn't hurt anything to try it!
Even if you dumped your copy of the email you can fill out a claim form and see what happens. If you still have the email keep it. As it contains a unique identifier that will help in filling out the form and hopefully getting your cold hard cash!
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