00:00It's Benzinga bringing Wall Street to Main Street.
00:02Meta Platforms heads to trial Tuesday in federal court in Oakland over claims from 29 state attorneys general
00:09that Facebook and Instagram were deliberately designed to encourage compulsive use among young users, according to Bloomberg.
00:17The states allege meta-violated consumer protection laws and collected data from users under 13 in violation of federal privacy
00:24law.
00:25Meta estimates potential penalties could reach $1.4 trillion, while a California lawyer put the figure closer to $193 billion.
00:35The states are also seeking changes to Meta's platforms, including restrictions on younger users
00:41and removal of features such as infinite scroll and recommendation systems.
00:45Meta denied the allegations and called the financial demands disproportionate.
00:51For all things money, visit Benzinga.com.
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