Meta agreed to settle lawsuits filed by several US states, such as California. The company will provide between 16.68 billion and 17.1 billion dollars to resolve the dispute. Some reports noted the total could climb to 18 billion dollars. Meta stock fell after the news broke.
The lawsuits alleged social media use harmed children. States argued the platforms encouraged compulsive use. Meta denied wrongdoing but decided to resolve the matter. The agreement covers a wide range of claims. The settlement will be tracked in court filings.