Meta agreed to settle lawsuits filed by several US states, such as California. The company will pay between 16.68 billion and 17.1 billion dollars to resolve the dispute. Some reports said the total could climb to 18 billion dollars. Meta stock fell after the news emerged.
The lawsuits alleged social media use negatively impacted children. States argued the platforms fueled addiction. Meta denied wrongdoing but chose to settle. The agreement includes a wide range of legal allegations. The settlement can be monitored in court filings.