Meta agreed to settle lawsuits brought by several US states, such as California. The company will provide between 16.68 billion and 17.1 billion dollars to end the claims. Some reports noted the total could climb to 18 billion dollars. Meta stock dropped slightly after the news emerged.
The lawsuits alleged social media use harmed children. States argued the platforms fueled addiction. Meta refused to admit fault but decided to resolve the matter. The agreement includes a wide range of legal allegations. The settlement can be monitored in court filings.