Meta could face $1.4 trillion in penalties over accusations that it deliberately designed social media platforms such as Facebook and Instagram to addict young users and misled the public about their safety. The amount is being sought as damages by the US state attorneys-general of California, Colorado, Kentucky, and New Jersey in a lawsuit filed against the social media giant. The previously undisclosed figure was mentioned in Meta’s court filing on Monday, July 6, in response to the attorneys general’s filings on how penalties should be calculated if the states prevailed at trial. It is close to Meta’s market capitalisation of around $1.5 trillion. Do you think that a trillion in damages ?
