Meta reached a deal on lawsuits filed by several US states, including California. The company is set to pay 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 dropped slightly after the news emerged.
The lawsuits said social media use harmed children. States contended the platforms fueled addiction. Meta denied wrongdoing but chose to settle. The agreement spans a wide range of legal allegations. The settlement can be monitored in court filings.