Meta falls after $16.68 billion settlement with US states on social media harms
26/08/2026 14:49
BUZZ-Meta falls after $16.68 billion settlement with US states on social media harms Updates
** Meta Platforms META.O falls 1.2% in early trading on Wednesday after agreeing to pay up to $16.68 bln to settle claims it designed Facebook and Instagram to addict children
** The settlement with 29 states averts a federal trial and includes new nationwide safeguards for teen users, though the co denied wrongdoing
** Meta, along with peers including Snap SNAP.N and Alphabet GOOGL.O, still faces thousands of other lawsuits over alleged harm to young users
** Meta has an average analyst rating of "buy" among 65 brokers; median PT is $750 - data compiled by LSEG
(Reporting by Rashika Singh in Bengaluru)
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