Meta reached a deal on lawsuits filed by several US states, including California. The company will pay between 16.68 billion and 17.1 billion dollars to finish the litigation. Some reports noted the total could climb to 18 billion dollars. Meta stock fell after the news broke.
The lawsuits claimed social media use harmed children. States contended the platforms encouraged compulsive use. Meta refused to admit fault but chose to settle. The agreement covers a wide range of claims. The settlement can be monitored in court filings.