Meta has agreed to resolve lawsuits filed by several US states, including California. The company will pay between 16.68 billion and 17.1 billion dollars to resolve the dispute. Some reports indicated the total could climb to 18 billion dollars. Meta stock dropped slightly after the news broke.
The lawsuits alleged social media use negatively impacted children. States contended the platforms fueled addiction. Meta refused to admit fault but decided to resolve the matter. The agreement spans a wide range of legal allegations. The settlement can be monitored in court filings.