00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Meta Platforms faces a class-action lawsuit in Australia alleging Facebook and Instagram
00:07exposed children to harmful content and used algorithms to keep them addicted, according
00:11to Reuters. Law firm Minter Ellison filed the lawsuit in federal court on behalf of
00:15eight plaintiffs who claim they suffered harm while under 18 and are seeking compensation.
00:20The case could be Australia's first to hold social media platforms responsible for harming
00:24users. Meta has not commented. In August, Meta agreed to pay $18 billion to settle similar
00:29claims involving nearly all U.S. states. The lawsuit follows Australia's ban on social
00:33media for children under 16 and proposed rules allowing users to disable algorithm-driven content.
00:39For all things money, visit Benzinga.com.
