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 noted the total could reach up to 18 billion dollars. Meta stock dropped slightly after the news emerged.
The lawsuits claimed social media use harmed children. States argued the platforms encouraged compulsive use. Meta denied wrongdoing but chose to settle. The agreement spans a wide range of claims. The settlement will be tracked in court filings.