Texas, which didn't join a multi-state case against Meta, negotiated a $1.05B side deal that could reach $1.335B if TikTok and YouTube adopt teen safety changes (Ryan Autullo/Bloomberg Law)
A week before 47 states reached a $17 billion mid-trial settlement with Meta Platforms Inc. over claims it caused social media addiction …
Texas negotiated a $1.05B side deal with Meta that could reach $1.335B if TikTok and YouTube adopt teen safety changes. This deal was separate from a multi-state case against Meta, which 47 states settled for $17 billion. According to Bloomberg Law, the settlement with Texas was reached a week before the multi-state case was settled.
The $17 billion settlement with 47 states resolves claims that Meta caused social media addiction and contributed to a youth mental-health crisis. The deal, reported by Hindustan Times - World News, requires court approval and includes a base payment of $12.7 billion over 10 years, with a total cap of $18 billion. California will receive at least $1.5 billion from the settlement.
Meta's settlement with states includes measures to protect children online, with the company calling on rivals to adopt similar rules. A business professor told CNBC Technology that Meta is seeking to ensure its competitors face the same regulations.
Brief written by urgent.news from Techmeme, CNBC Technology, Hindustan Times - World News, Times of India — 4 reports on this story. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Google data center deal gives Texas farmer 60 days to leave 600 rented acres timesofindia.indiatimes.com
