Meta has agreed to resolve lawsuits filed by several US states, including California. The company will provide between 16.68 billion and 17.1 billion dollars to finish the litigation. Some reports indicated the total could climb to 18 billion dollars. Meta stock moved lower after the news broke.
The lawsuits alleged social media use harmed children. States contended the platforms fueled addiction. Meta denied wrongdoing but chose to settle. The agreement includes a wide range of claims. The settlement will be tracked in court filings.