LinkedIn Settles Class Action Lawsuit for $6.625 Million 🚀
LinkedIn has agreed to pay $6.625 million to settle a proposed class action lawsuit accusing the Microsoft unit of overcharging advertisers by inflating video ad metrics on its platform. The settlement was filed in a San Jose federal court and awaits approval from a U.S. Magistrate Judge.
The Allegations and Settlement Terms 💼
- Advertisers accused LinkedIn of inflating ad metrics by counting video ad views inaccurately.
- LinkedIn denied wrongdoing but agreed to hire an outside auditor to review its ad metrics for two years.
- The settlement covers U.S. advertisers who ran ads on LinkedIn between January 2015 and May 2023.
Background and Lawsuit Details 📰
- The lawsuit emerged after LinkedIn disclosed software bugs that led to over 418,000 overcharges.
- LinkedIn provided credits to affected advertisers following the disclosure.
- Judge van Keulen initially dismissed the lawsuit in December 2021, leading to appeals and mediation.
Implications and Legal Fees 💸
- The settlement underscores LinkedIn’s commitment to ad product integrity and customer trust.
- The advertisers’ lawyers may request up to $1.6 million in legal fees, equivalent to 25% of the settlement.
Hot Take: What Does This Mean for LinkedIn Users? 🌐
As a crypto reader, staying informed about legal actions involving tech giants can provide valuable insights. Always monitor how platforms handle ad metrics to ensure transparency and integrity in their operations. This settlement highlights the importance of accountability in digital advertising and may lead to better practices in the industry.
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