00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Meta agreed to pay $16.7 billion to settle a federal case brought by state attorneys general
00:09over allegations that Facebook and Instagram harmed children's mental health, according to CNBC.
00:15The settlement requires Meta to add daily usage limits and nighttime blocks for teenagers,
00:20strengthen age assurance measures, and expand parental controls.
00:23California could receive between $1.5 billion and $2.1 billion.
00:29While Texas separately agreed to a $1 billion payment.
00:33The party's also all rights to appeal this final judgment, according to the filing.
00:38Meta said the broader agreement involves about $18 billion distributed over 10 years,
00:43with some payments tied to similar changes by YouTube and TikTok.
00:47Meta expects to record about $10 billion in legal expenses during the third quarter of 2026.
00:56For all things money, visit Benzinga.com.
00:59www.feyc.pt.gmi.ampion.
00:59Mate 2.1
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