Good morning. It was supposed to be Meta’s big tobacco moment, but the tech company’s share price barely flinched on Wednesday – and fluttered upwards, even – after it settled a landmark lawsuit. The case was brought by 29 US states who accused the company of harming children with addictive and dangerous products.
Against a rising tide of popular backlash, this legal action in the American courts pushed Meta to self-impose a level of regulation that Congress had repeatedly failed to, with a series of reforms now incoming to better protect children on Meta platforms. Some critics have argued the changes don’t go far enough.
