Meta agreed to pay up to $17.1 billion in penalties to settle claims from 47 states, the District of Columbia, and U.S. territories that its platforms endangered children through addictive design. The company will initially pay about $12 billion, with up to $5.1 billion more contingent on settlements from Snap, Tik Tok, and You Tube.

For context, Meta's market value stands at $1.45 trillion, making the maximum penalty roughly 1 percent of its stock value. The four states that took the case to trial in the U.S. Northern District of California in Oakland had originally sought about $200 billion.

Financially, Meta reported $60.8 billion in quarterly revenue and $18.3 billion in quarterly profit. Full-year 2023 revenue reached $200.97 billion with $60.46 billion in profit. The company noted it spent $2 billion in the second quarter alone on legal challenges.