Meta reached a deal on lawsuits filed by several US states, including California. The company will provide between 16.68 billion and 17.1 billion dollars to resolve the dispute. Some reports noted the total could climb to 18 billion dollars. Meta stock moved lower after the news emerged.
The lawsuits said 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 claims. The settlement can be monitored in court filings.