Meta Is Facing $1.4 Trillion In State Lawsuits Over Social Media Addiction
The potential sanction has 'no analog in history,' Meta said.
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Meta is facing penalties of up to a massive $1.4 trillion from four US states that sued the company over the addictive designs of Facebook and Instagram, Reuters reported. Those states — California, Colorado, Kentucky and New Jersey — also accused the company of misleading the public about the safety of those apps. The figure, not previously disclosed, is close to Meta's $1.5 trillion market capitalization.
At a court hearing last month, the states said they calculated the penalties by estimating the number of young users affected by Meta's platforms and multiplying that by fines set by state law. Meta revealed the figure in response to a request from the states' attorneys general on how penalties should be calculated, but said that the amount was unjustified. "A sanction of that size has no analog in the history of...
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