Meta Platforms Inc.META
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Meta agrees to $16.7B settlement and operational restrictions over child harm lawsuit.
Impact on stocks 1
Spatial Computing / AR/VR
Meta Platforms Inc.Meta has agreed to pay $16.7 billion to resolve a federal lawsuit alleging that the company misrepresented the risks to children's mental health from Facebook and Instagram. The court approved the settlement on Wednesday. Under the agreement, Meta must limit daily usage time, block nighttime use for teenagers, and enhance age verification measures. California may receive between $1.5 billion and $2.1 billion, while Texas separately pays $1 billion. A group of 51 attorneys general from both political parties participated in the agreement, which includes $459 million for the Cambridge Analytica case. Meta expects to recognize a charge of $10 billion in the third quarter of 2026.
Meta Platforms Inc.Meta agrees to $16.7B settlement and operational restrictions over child harm lawsuit.