Meta reached a deal on lawsuits brought 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 said 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 argued the platforms fueled addiction. Meta refused to admit fault but chose to settle. The agreement includes a wide range of claims. The settlement can be monitored in court filings.