According to court documents, Meta Platforms Inc. has reached an agreement to pay up to $16.7 billion to settle a major lawsuit concerning social media across several US states.
This agreement requires the company to implement new protective mechanisms on its platforms, such as Facebook and Instagram. These measures include limiting the time teenagers can spend in the feed scrolling mode, as well as prohibiting the disabling of certain safety settings without parental consent.
The judge must approve this agreement. When asked for comment, Meta did not provide an immediate response.
This settlement was reached during the second week of the jury trial in federal court in Oakland, California, which posed a significant risk to Meta. Legal representatives from 29 states were seeking not only substantial financial penalties on behalf of the public but also injunctions that could force the company to change how its platforms operate.
As reported by Bloomberg late Tuesday, the parties discussed the possibility of settling the case mid-trial.