Meta Platforms has agreed to pay up to $16.68 billion to resolve allegations from 29 states that its platforms (Facebook and Instagram) were designed to be addictive to children, deceived the public about platform safety, and illegally collected personal data from minors. As part of the settlement, Meta will introduce daily time limits and nighttime usage restrictions for teenage users, strengthen age verification systems, and expand parental control features. Meta denies wrongdoing but agreed to the settlement. Following the announcement of the settlement, Meta's stock price rose by 4.4% in pre-market trading.