Tech giant Oracle has reached a settlement in a class action lawsuit, agreeing to pay $115 million over allegations of tracking consumer behavior online and offline. The lawsuit accused Oracle of collecting and selling individuals’ data to third parties without proper consent. Oracle, however, defends its actions as legal, stating it disclosed its practices and denied any wrongdoing.
As part of the settlement, Oracle will establish a $115 million fund to compensate individuals residing in the United States from August 19, 2018, onward who may have been affected by their data collection practices. Additionally, the fund will allocate up to $28.75 million for attorney fees and other expenses. All eligible claimants will receive an equal share of the fund based on the number of participants.
Consumers who engaged in web browsing, utilized geolocation services, or made electronic in-store purchases between August 2018 and the present period covered by the settlement may qualify to file a claim. Allegedly, Oracle Advertising products such as ID Graph and Data Marketplace were used to improperly gather personal data from these activities, which was subsequently sold or shared with third parties.
Individuals in the United States whose personal information was acquired by Oracle Advertising technologies from August 2018 to the final judgment date, as per the settlement website, are eligible to participate. A court hearing to approve the settlement is scheduled for November 14, 2024, with the deadline for claims set for October 17, 2024.
Interested parties can submit claims online on the settlement website or through mail. Meanwhile, Oracle Corp’s stocks experienced a slight increase following the news.
