Aug 26 (Reuters) - Meta Platforms agreed to pay a maximum $16.68 billion as part of a settlement to resolve claims brought by states across the country that the company designed Facebook and Instagram to addict children, misled consumers about their safety, and improperly collected personal data of children who used its platforms, court papers show.
The settlement was reached during a California federal trial over claims brought by 29 states, averting one of the highest-profile tests yet of allegations that social media companies harmed young users.
Meta also agreed to make changes for teenage users of Facebook and Instagram nationwide, including daily usage limits and nighttime blocks, court papers show.
The Menlo Park, California-based company denied wrongdoing in agreeing to settle.
Shares of Meta rose 4.4% in pre-market trading.
#agreed #settlement #states
The settlement was reached during a California federal trial over claims brought by 29 states, averting one of the highest-profile tests yet of allegations that social media companies harmed young users.
Meta also agreed to make changes for teenage users of Facebook and Instagram nationwide, including daily usage limits and nighttime blocks, court papers show.
The Menlo Park, California-based company denied wrongdoing in agreeing to settle.
Shares of Meta rose 4.4% in pre-market trading.
#agreed #settlement #states
22 hours ago
