Meta settles social media addiction case with California, other states for $16.7 billion

Meta and a coalition of state attorneys general settled a federal trial over allegations that the company misrepresented child-related mental health harms from Facebook and Instagram. The settlement requires Meta to implement daily usage limits, nighttime blocks for teens, enhanced age assurance, and additional parental controls, and Meta agreed to pay $12.6 billion. Shares of Meta rose 5% in premarket trading following the news.