WOLF (@WOLF_Financial) “META $META IS DISCUSSING A SETTLEMENT WITH 29 STATE ATTORNEYS GENERAL IN THE MID” — TopicDigg

META $META IS DISCUSSING A SETTLEMENT WITH 29 STATE ATTORNEYS GENERAL IN THE MIDDLE OF THE TRIAL The talks are unconfirmed, sourced to people familiar with the matter, per Bloomberg. Meta declined to comment and so did California's attorney general's office. The case is only in its second week in federal court in Oakland, Instagram head Adam Mosseri has already testified, and lawyers expect to call Mark Zuckerberg. By Meta's own calculations, losing could mean penalties as high as $1.4 trillion, close to the company's entire market capitalization. Bloomberg describes an amount unheard of in legal history, and notes any settlement would come in far below it. The states allege Meta knowingly designed features that encouraged compulsive use by young people while misleading consumers about safety tools, and that it collected data from users under 13 in violation of federal law. Meta denies all of it and has accused the states of seeking unreasonable design changes and an "outlandish payout."