Court ruling or official announcement from Clearview AI

Clearview AI Settles Privacy Lawsuit with 23% Company Stake Worth $52 Million

Jun 14, 2024, 12:55 AM

Clearview AI, a facial recognition company, has reached a unique settlement to resolve a class action lawsuit alleging it violated the privacy rights of millions of Americans. Instead of cash payments, the settlement proposes to collectively give a 23% stake in the company, valued at approximately $52 million, to the affected individuals. This stake is based on Clearview AI's estimated valuation of $225 million. The settlement is notable for its theoretical stake in the company's future value, rather than immediate financial compensation. According to the New York Times, almost everybody in the United States could be considered a member of the class.