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Meta Platforms could face an unprecedented $1.4 trillion in penalties after four states accused the tech giant of deliberately designing Facebook and Instagram to addict young users while misleading the public about the platforms' safety.
The eye-watering figure was disclosed by Meta itself in a recent court filing responding to attorneys general's proposed penalty calculations. The total is close to the company's roughly $1.5 trillion market value.
The disclosure comes ahead of a pivotal trial beginning in August in Oakland, California. California, Colorado, Kentucky and New Jersey allege Meta violated state consumer protection laws by creating addictive products for children and teens.
open image in gallery Meta denies the allegations, calling the proposed penalty "unsupported by the evidence” ( Reuters )
Meta denies the allegations, calling the proposed penalty "unsupported by the evidence."
"A sanction of that size has no analog in the history of consumer protection enforcement," the company said in its court filing.
Although the states' filings remain under seal, hearings in June revealed they calculated the potential penalties by multiplying the number of alleged violations by fines allowed under state law. The alleged violations are based on the estimated number of children and teenagers affected.
open image in gallery The August trial before U.S. District Judge Yvonne Gonzalez Rogers will also consider claims brought by 29 states accusing Meta of violating the federal Children's Online Privacy Protection Act ( Reuters )
The August trial before U.S. District Judge Yvonne Gonzalez Rogers will also consider claims brought by 29 states accusing Meta of violating the federal Children's Online Privacy Protection Act by collecting children's data without proper parental consent.
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