It took less than two weeks of trial proceedings for Meta to reach a multibillion-dollar settlement over allegations that Facebook and Instagram were designed to addict teens and children.
The proposed settlement, outlined in a court filing Wednesday, requires Meta to pay about $12.1 billion. That total could rise to about $17.1 billion if Snapchat, TikTok, and YouTube become subject to similar protections for younger users.
Even at the maximum payout, the settlement is significantly less than the penalties Meta could have potentially faced at trial.
Meta said in a court filing last month that the states were seeking as much as $1.4 trillion in…
Read the full article at GIZMODO.COM
