META - Meta Platforms, Inc.
California Attorney General Rob Bonta said Tuesday that a federal child safety trial he's co-leading against Meta centers around "civil penalties, restitution and distortion." "This is not a damages case," Bonta said during a press conference following opening arguments on the first day of a trial that could last up to seven weeks.
Even a loss in the landmark youth-safety trial would do little to hurt Mark Zuckerberg's empire.
The agency joins a growing number of workplaces and groups to ban Meta's devices, which have spurred privacy concerns.
Mark Zuckerberg's Meta built its apps to be addictive for kids and then lied to the public about health risks so it could rake in massive profits, a California prosecutor said as a historic federal trial kicked off Tuesday.
Meta Platforms (META), the social-media powerhouse behind Facebook, Instagram and one of the biggest artificial-intelligence bets in technology, dropped approxi
Reddit's rapid ad growth and expanding advertiser base give it an edge over Meta Platforms, despite a richer valuation and search traffic headwinds.
Twenty-nine US states are seeking huge damages, claiming Meta's platforms were addictive by design
Meta Platforms (META) faces a major federal trial over alleged youth safety violations, with high financial and operational risks following recent legal losses. Disney (DIS), along with its ABC unit, has sued the Federal Communications Commission, seeking to block an early review of licenses for its eight ABC television stations.
Meta Platforms' latest child safety trial kicks off today. Investors are concerned that the outcome could dramatically reshape the social media landscape.
CNBC's Julia Boorstin joins 'Squawk on the Street' to discuss opening statements in Meta's landmark child safety trial.
The case, brought by four state attorneys general, alleges that Meta violated state consumer protection laws and federal rules that protect children online.
Meta Platforms (NASDAQ:META | META Price Prediction) is caught in a strange moment.
A trial to determine whether Meta purposely made its apps addictive to children is underway in California. That's according to a report Tuesday (Aug. 18) from Reuters, which said the case marks the most significant test to date for social media platforms facing similar youth safety lawsuits.
Four companies are driving most of the fresh corporate bond supply tied to the AI buildout. Amazon.com Inc. (NASDAQ:AMZN) , Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) , Meta Platforms Inc. (NASDAQ:META) and Oracle Corp. (NYSE:ORCL) sold about $194 billion of bonds in 2026 through early July, up 79% from roughly $108 billion for all of 2025, according to a Reuters analysis of LSEG data.
Opening arguments begin Tuesday in the federal trial of Meta, the social media titan accused of deliberately making its Instagram and Facebook platforms addictive to children, with a coalition of states seeking $200 billion in penalties.
The state attorneys general behind the lawsuit are seeking severe financial penalties and changes to the way Meta operates its flagship social media platforms. The states have said they are seeking damages close to $200 billion, though Meta had claimed in court filings states are seeking damages totaling a whopping $1.4 trillion, a figure that nearly matches Meta's market capitalization.
Today, opening statements will be heard in an Oakland, California, courtroom in a landmark trial that could determine whether Meta Platforms, owner of Facebook and Instagram, designed its social media platforms to addict younger users, despite the company being aware of the danger its social media platforms presented to mental health.
Meta META shares fell 3% on Tuesday as a cautious mood across Wall Street, due to higher oil prices and rising Treasury yields, weighed on technology stocks, while investors also turned their attention to a major child safety trial that could expose the company to significant financial and regulatory risks. Meta's stock has already fallen about 16% this year, with much of the pressure coming from concerns over the company's enormous spending on artificial intelligence infrastructure.
Meta Platforms (NASDAQ:META | META Price Prediction) stock is down 4% to $548.14 in Tuesday morning trading as a 29-state youth-harm trial opens in Oakland.
Former Assistant Attorney General Jonathan Kanter joins ‘Squawk on the Street' to discuss Meta's federal trial over child safety, which begins on Tuesday, what it means for other social media giants, and more.