A federal judge on Wednesday has given approval to a $9.5 million settlement over Facebook’s controversial Beacon advertising feature.  This feature broadcasts what users were purchasing online to their friends. Facebook denied any wrongdoing under the settlement.   At least $6 million is required by the the terms of the settlement to be put in a “Digital Trust Fund” that will issue grants to researchers studying online privacy.

Tim Sparapani, Facebook public policy director; Chris Jay Hoofnagle, head of the Berkeley Center for Law & Technology; and privacy advocate Larry Magid will comprise the board of the fund.

Wired.com noted that “only a handful of the estimated 3.5 million class members are to receive financial damages.”  $3 million of the total $9.5 million settlement will be received by the class action plaintiffs’ attorneys.