00:00 It's Benzinga and here's what's on the block.
00:02 More than 30 states filed a federal lawsuit against Meta, the owner of Facebook and Instagram,
00:06 alleging the platform's apps are designed to be addictive and harm children's mental
00:10 health.
00:11 The lawsuits claim Meta violated both federal children's online privacy law and state
00:15 consumer protection laws by making its products addictive and then lying about how they harm
00:19 children's mental health.
00:21 The lawsuits argue that Meta deceived the public about the safety of children on its
00:24 apps and that it failed to obtain parental consent as required by COPPA before collecting
00:28 data from users under 13.
00:30 If successful, the lawsuits could force Meta to change the way it designs and markets its
00:34 platforms to the public and lead to hefty fines.
00:37 The strategy has drawn comparisons to lawsuits filed against the tobacco industry in the
00:40 1990s.
00:41 For all things money, visit Benzinga.com.
00:43 (upbeat music)
Comments