Meta Platforms, the owner of Facebook and Instagram, on Wednesday agreed to settle a wide-ranging social media addiction lawsuit with the state of California and a number of other states.
“The agreement includes a payment of approximately $18 billion, which can be used to fund youth online safety initiatives, among other state priorities,” Meta said in a statement.
The court filing says that the company “denies the allegations against it and that it has any liability to the Plaintiffs,” which are a collection of 29 states.
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