STATES SEEK $200 BILLION FROM META OVER CHILD SOCIAL MEDIA ADDICTION CLAIMS

Summary from the TLDR newsletter

California, Colorado, Kentucky, and New Jersey have accused Meta of harming children with technology designed to be addictive. The states claim Meta fueled a national youth mental health crisis and deceived users by promoting its apps as safe. They have filed a lawsuit charging the company with violating federal child privacy laws and state consumer protection laws. Meta plans to argue that it put in safeguards to protect young users and that it was truthful to consumers. The states are seeking damages approaching $200 billion, nearly 14% of the entire stock value of the company.