Meta has agreed to resolve lawsuits brought by several US states, such as California. The company will pay 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 dropped slightly after the news emerged.
The lawsuits alleged social media use negatively impacted children. States argued the platforms encouraged compulsive use. 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.