Law360, New York ( January 15, 2013, 11:38 AM EST) -- Facebook has faced many challenges about how personal data of its members is collected and used by this Goliath social media company. Recently, a federal judge reportedly indicated tentative approval of Facebook's offer to settle a class action claim arising from its use of individuals' names and likenesses in connection with Sponsored Stories, a service it rolled out in January of 2012.[1] While the details of this settlement are not yet fully known, it appears that Facebook will pay $20 million to affected consumers plus additional monies in attorneys' fees.[2] While $20 million sounds like an impressive number, reports estimate that Facebook made $1 million a day from the Sponsored Stories service over the last year.[3] From that perspective, Facebook made the right business decision when it launched the Sponsored Stories service even though it undoubtedly knew that it was bound to face legal challenges....