The legal action alleged the social-media company shared 87 million users' data without their consent, via third parties such as Cambridge Analytica.
The allegation, dating back to 2018, remains one of the highest-profile data-privacy scandals.
Meta, which owns Facebook, has denied any wrongdoing but agreed to the settlement.
Anyone who used Facebook in the US between 24 May 2007 to 22 December 2022 can claim - "in the range of 250-280 million" people, according to the ruling document.
The deadline to claim is 25 August - but anyone wanting to object to the settlement or retain their right to take separate legal action against Meta by opting out must do so by 26 July.