BusinessQuiet 80d · day 80
Meta agrees to pay up to $17.1 billion to settle state child-safety claims
Facebook and Instagram parent settles allegations it designed platforms to addict children, in what is being called the largest Big Tech accountability settlement.
What to know
- Meta will pay up to $17.1 billion and make platform changes to resolve claims that Facebook and Instagram were designed to addict children.
- The settlement resolves claims from 51 states and territories, including a federal case involving 29 states.
- The sum is described as over 12 times larger than the second-largest big tech privacy settlement in the past four years.
- Despite its size, the payout equals just 1.17% of Meta's $1.46 trillion market capitalization.
Meta Defendant / settling companyAttorneys general of 51 states and territories Plaintiffs
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