You'd really hope that sharing viral Facebook posts about privacy updates would be a thing of the past in 2016.
Sadly, people keep sharing them, so they aren't.
The most recent post of its kind reads something like this:
This status is clearly utter senseless rubbish, as the previous one hundred thousand before it were also.
Snopes has reported on this trend and thoroughly debunked it - Facebook isn't claiming copyright to the personal information, photographs, and any other material users post.
Facebook has also previously addressed claims of this kind in a 2012 statement:
There is a rumor circulating that Facebook is making a change related to ownership of users' information or the content they post to the site. This is false. Anyone who uses Facebook owns and controls the content and information they post, as stated in our terms. They control how that content and information is shared. That is our policy, and it always has been. Click here to learn more: www.facebook.com/policies.
If you disagree with Facebook's stated policies you can cancel your Facebook account or lobby for change on the website's governance section - however, by cancelling your account you don't necessarily reclaim some of the rights you agreed to waive by signing the terms and conditions.
Either way if you think a status is going to do anything legally, you should definitely remove yourself from social media for the greater good.