Meta agrees to pay $18 billion to settle US lawsuits over children's social media addiction
OAKLAND: Meta Platforms will pay up to $18 billion over the next decade and strictly limit how teenagers use Facebook and Instagram, under an agreement with nearly all U.S. states to resolve claims it designed those social media platforms to addict children. The settlements announced on Wednesday end a federal trial over allegations Meta’s products harmed children and the company misled the…
Meta Platforms has agreed to pay up to $18 billion over the next decade to settle lawsuits in the US over claims that its social media platforms, Facebook and Instagram, were designed to addict children. The settlement, which ends a federal trial, also includes strict limits on teenage usage of the platforms, with usage restricted to two hours per day and a ban from midnight to 6 a.m. Additionally, Meta will enhance measures to prevent children from accessing age-restricted content.
The settlement represents about three to four months of profit and one month of revenue for Meta, but does not require the company to abandon personalized recommendations or targeted advertising. The agreement is expected to set a precedent for resolving similar lawsuits against other social media companies.
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