Meta reached a deal on lawsuits brought by several US states, including California. The company will provide between 16.68 billion and 17.1 billion dollars to end the claims. Some reports said the total could climb 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 covers a wide range of claims. The settlement can be monitored in court filings.