**Meta Platforms Settles Major Legal Case for $17.7 Billion**
Meta Platforms (NASDAQ: META) has agreed to settle a significant legal case brought by 47 states, the District of Columbia, and U.S. territories, related to allegations that its social media platforms harm children’s mental health. The settlement, announced on Wednesday, includes a payment of up to $16.7 billion over the next ten years, alongside a separate agreement with Texas for up to $1 billion. The company will also implement new safeguards to protect minors, such as limiting access to its platforms at night and muting notifications during school hours.
The case’s potential penalties could have reached as high as $1.4 trillion, significantly overshadowing Meta’s market cap. In comparison, the company reported revenues of $60.8 billion in the second quarter, meaning the settlement represents about 25 days’ worth of revenue or roughly $6.51 per share—just exceeding its Q2 profit of $6.18 per share. Following the settlement announcement, Meta’s stock saw an increase of up to 4.1% on Thursday.
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