Meta has agreed to resolve lawsuits brought by several US states, including California. The company is set to 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 moved lower after the news emerged.
The lawsuits claimed social media use harmed children. States contended 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.