Martin Lewis, the Money Saving Expert, has settled the libel claim he brought against Facebook regarding a series of adverts placed on the social media platform by third parties, usually for purported bitcoin investments, which used fake endorsements given by Mr Lewis.
As part of the settlement, Facebook will donate £3m to Citizens Advice to deliver a new UK Scams Action Project. Facebook will also launch a new scam ads reporting tool and a dedicated team of people to act upon such reports. Facebook has also agreed to pay Mr Lewis’ legal costs.
Martin Lewis commented: “The amount being donated to to set up the Citizens Advice scams action project is far above anything I could have won had I succeeded in a court. In fact, we believe the amount Facebook is donating is substantially bigger than the biggest-ever UK court settlement for defamation”
- Martin Lewis drops Facebook legal action – BBC
- Martin Lewis drops lawsuit in row over fake ads on Facebook – Financial Times
- Martin Lewis settles lawsuit against Facebook over scam ads – Sky News
- Martin Lewis drops lawsuit as Facebook backs scam ads scheme – Guardian
- Martin Lewis calls on Google and Yahoo to tackle scam ads after reaching deal with Facebook – Telegraph