Meta Stock: $1.4 Trillion on the Line as Child Safety Trial Begins Tuesday

TLDR

• Attorneys general from 29 states are taking Meta to trial Tuesday over child safety and consumer protection law violations.
• California, Colorado, Kentucky, and New Jersey are leading the trial, with Zuckerberg and Instagram CEO Adam Mosseri expected to testify.
• States are demanding over $1 trillion in damages and want sweeping changes to Instagram and Facebook, including removing likes and infinite scroll.
• Meta denies all allegations and calls the financial demands “vastly disproportionate,” noting potential damages could reach $1.4 trillion against a $1.5 trillion market cap.
• Earlier this month, a New Mexico court ordered Meta to pay $942 million and declared it a “public nuisance.”

Meta is heading into a courtroom in Oakland, California on Tuesday for what could be its most consequential legal battle yet. Attorneys general from 29 states are arguing that Meta violated child safety and consumer protection laws, and that its platforms caused real harm to children’s mental health.

Is this social media’s “big tobacco” moment? Ahead of opening statements this week in the multistate federal trial against Meta, California @AGRobBonta says, “We are not interested in putting them out of business. We are interested in ending the harmful, unlawful features that… pic.twitter.com/lpZhcyd0GP

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