🇺🇸 LATEST: Meta agrees to pay up to $16.68 billion in a settlement with 29 US states and introduce new safeguards for teenage users. https://t.co/1C1gDwntkh ...

CNBC business news update market open major averages little changed and a little bit mixed on sticky inflation for July. The Dow up six points. The S&P 500 index was lower.Now it's up three points. The Nasdaq ticking down eight points. Meta has settled the social media addiction/child safety trial with California's attorney general and 48 other states for billions of dollars.But it's not as much money as they could have paid. The states claim that Instagram and Facebook harmed children and the platforms wer ...

We are on top of major breaking new in the tech world. Meta, the parent company of Facebook, has reached a settlement in a huge lawsuit filed by more than two dozen states. The state's accused the company of misleading customers about the safety of its products.Intentionally getting children addicted to them and improperly collecting their data. We are still reading through the court documents, but it looks like the penalty could max out at more than $16 billion. The trial was in its second week in Californ ...

Breaking news. Meta has agreed to a $16,700,000,000 settlement in its teen social media harm case. The stock is up nearly 4% on the news.Let's bring back Bloomberg tech host Ed Ludlow. And we're just talking two moments ago before this. We have a price tag on the settlement.Just how big of a relief of a savings is this for Meta versus if they had gone to trial. Well, against what Meta said was its worst case scenario of 1,400,000,000,000, which would be every single count and accusation met with the most se ...

Meta Platforms has settled its case. This is from Reuters. Meta Platforms reached a settlement to resolve claims brought by states across the country that the company designed Instagram and Facebook to addict children, misled consumers about their safety, and improperly collected personal data of children who used its platforms.The case here that Meta tried to make yesterday, we heard from the head of Instagram, Adam Weri, and he said that they had this take a break feature and they said only 1.8% of teens ...

Meta Agrees To $16.68 Billion Settlement In Social Media Addiction Trialhttps://t.co/u96cdouiOQ https://t.co/D6qTwLJnmW ...

The lawsuit alleged that Meta knowingly designed platforms like Instagram and Facebook to addict children, despite knowing about the harms the platforms could pose to young users.https://t.co/k7fiJtN4TQ ...

Okay. And Meta agrees to they just agreed to a settlement with uh 49 the AG states. It's really important because it's for an amount that I think is very reasonable.Uh 12.6% billion. Uh it's 7% we're going to have to be paid. Now it's funny because the law fees are almost bigger.So I'm sorry. What is the number. >> U 12.6% billion.>> That's for all that's and this settles the litigation with all states. No, it's still um there's still uh Florida because there's an ongoing lawsuit, but this is the uh Califor ...

Meta reaches settlement with states in landmark case claiming it intentionally designed addictive platforms that harmed young people's mental health. https://t.co/cApbWvG8QT https://t.co/vBxUTKoqNC ...

Meta reaches settlement with states in landmark case claiming it intentionally designed addictive platforms that harmed young people's mental health. https://t.co/rKWTJRZW33 https://t.co/jHvkPMrRz8 ...