Meta has reached a broad settlement agreement that includes a payment of up to $18 billion to resolve claims that its platforms caused psychological harm and violated the privacy of young users, according to an Israeli media report. The figure exceeds the $16.68 billion settlement with 29 states reported earlier this month.
Meta has reportedly agreed to a broad settlement that could cost the company up to $18 billion, according to Israeli financial daily Calcalist. The agreement addresses allegations that Facebook and Instagram were designed to addict minors and improperly collected their data.
As The Zioneer reported earlier this week, Meta had already agreed to pay $16.68 billion to settle a lawsuit brought by 29 US states over similar claims. A separate ruling by a New Mexico court in August ordered Meta to establish a $567 million youth mental health fund, limit minors to 90 hours of monthly usage, and delete accounts of users under 13.
The Calcalist report suggests the total settlement scope may be wider than previously disclosed, potentially covering additional claims or jurisdictions. The exact breakdown and number of states or plaintiffs involved has not been detailed.
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