Meta Platforms

[WASHINGTON] Meta Platforms has agreed to pay up to US$16.7 billion to settle a landmark social media case with multiple US states, according to a court filing on Wednesday (Aug 26).

META Platforms and state attorneys general have discussed a possible mid-trial settlement of a blockbuster case accusing the company of deliberately designing Facebook and Instagram to addict teens, people familiar with the matter said.

The country is emulating Australia, which became the first country in the world last year to implement such a law

US states accuse Meta of designing its social media platforms to hook young users

This concerns claims that the firm deliberately designed Facebook and Instagram to encourage compulsive use among young users

How should investors gauge the probability that these off-balance-sheet contingencies will turn into on-balance-sheet problems?

Over 10 million Apac creators in the past year have connected their Facebook account to retail partners

Observers are watching for signs of whether the new rules are working but many Australian children have found workarounds

The company must defend against a possible US$1.4 trillion penalty request by state AGs in the US