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

Turkish, Russian officials to discuss solution for Syria

Aug 10, 2016

Turkey's foreign minister says Turkish foreign ministry, military and intelligence officials will travel to Russia for discussions on finding a solution to the Syria conflict

Zambia voting for president amid unprecedented violence

Aug 10, 2016

Zambia, former 'model for Africa,' votes for president amid striking political violence

Father of Orlando shooter sighted at Hillary Clinton event

Aug 10, 2016

Father of Orlando gay nightclub shooter spotted at Hillary Clinton campaign event in central Florida

People also read these

'American Crime Story' writers focusing on Hurricane Katrina

Aug 10, 2016

An executive producer behind 'American Crime Story,' the anthology series for FX, says they're taking 'great care' with casting of the season which will focus on Hurricane Katrina

Trump ignites new firestorm: Gun backers might stop Clinton

Aug 10, 2016

Donald Trump sets off a fresh political firestorm by suggesting gun rights supporters might find a way to stop Hillary Clinton if she's elected and nominates anti-gun Supreme Court justices

Father of Orlando shooter sighted at Hillary Clinton event

Aug 10, 2016

Father of Orlando gay nightclub shooter spotted at Hillary Clinton campaign event in central Florida

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