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>If the company goes public or is acquired, those who had submitted a claim form would get a cut of the proceeds. Alternatively, the class could sell its stake.
by jjulius 2y ago
>If the company goes public or is acquired, those who had submitted a claim form would get a cut of the proceeds. Alternatively, the class could sell its stake. Or the class could opt, after two years, to collect 17 percent of Clearview’s revenue, which it would be required to set aside.
"If" and "could" are doing some heavy lifting there.
This is all dependent upon the value of Clearview, a company who fucked up so hard that they got themselves into this legal mess almost immediately after they started business, and whose leaders have creepily tracked and harassed users of their own product[1]. The decision makers are still allowed to have their majority say, and now you're incentivizing the victims to support Clearview pushing the boundaries of privacy because it's now in their best financial interest to do so.
This is absolute garbage.
[1]https://en.wikipedia.org/wiki/Clearview_AI#Usage https://en.wikipedia.org/wiki/Clearview_AI#Usage