The proposed settlement, announced late on Friday, calls not only for Facebook to discontinue Beacon, but also back the creation of an independent foundation devoted to promoting online privacy, safety and security. The money for the foundation will come from a US$9.5 million settlement fund.
"We learned a great deal from the Beacon experience. For one, it was underscored how critical it is to provide extensive user control over how information is shared. We also learned how to effectively communicate changes that we make to the user experience," said Barry Schnitt, Facebook's Director of Policy Communications, in a statement.
Facebook Will Shut Down Beacon to Settle Lawsuit - NYTimes.com
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