Meta is Facing $1.4 TRILLION in Lawsuits Over Social Media Addiction

Even for Meta, $1.4 trillion is a lot of money. That is just from four states that are suing them over the addictive designs of Facebook and Instagram. The states are California, Colorado, Kentucky and New Jersey.

Meta’s market cap is $1.5 trillion.

The states figured the damages based on the number of kids affected by the platforms times the penalties specified by those states’ laws.

That doesn’t count the lawsuits from 29 states that are not part of the four states’ lawsuits. Most of these allege violations of COPPA which requires parental approval before collecting kids’ data. Assuming Meta doesn’t settle, a trial is set for August.

Meta has a strong incentive to settle to make sure that a loss doesn’t create a precedent that they absolutely don’t want. Credit: Cybersecurity Ventures

by