Unable to afford a settlement with"virtually anyone in the United States whose face appears on the internet," data-scraping facial recognition firm Clearview AI has decided that an IOU for a chunk of the company's future value will have to do., which still needs final court approval, Clearview AI will set aside a common fund that it would fill with the monetary equivalent of 23 percent of the company's value as of last September - under certain conditions, that is.
If that makes it sound like class members my never see a dime, there's an extra provision in the settlement to increase the odds: It also calls for the appointment of a special master who has the right to make a cash demand from Clearview or to sell settlement rights to a third party with proceeds to go to class members. Both of those conditions have a drop-dead date of September 30, 2027.
"Clearview was a startup company with few assets that could not possibly pay the amount of money needed to provide meaningful relief to the Class," lawyers for the plaintiffs said in the settlement proposal.
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Source: TheRegister - 🏆 67. / 61 Read more »