In a move that may send ripples through the tech industry for years to come, Meta Platforms reached a historic multibillion-dollar settlement with 47 U.S. states, territories, and the District of Columbia, agreeing to overhaul its services after accusations of endangering and addicting children.
The landmark Aug. 26 agreement settles a series of lawsuits brought against the Facebook and Instagram parent company, accusing it of intentionally designing its platforms to be addictive, knowingly exposing children to mental harms, and deliberately misleading the public about the safety of its products.
Meta will pay $17.1 billion to settle the lawsuits brought by the states and territories, as well as $1 billion to settle a separate lawsuit brought by Texas….