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Meta faces 29-state federal trial over youth-harm allegations

Meta faces a federal trial brought by 29 states over allegations that Facebook and Instagram were deliberately designed to addict young users and that the company improperly collected children's data, according to Bloomberg. The report says the case could expose Meta to substantial penalties and potentially court-ordered changes to how its platforms operate. California Attorney General Rob Bonta said the states are seeking financial penalties and product changes. Meta denies the allegations and says it has worked to make its platforms safer for young people.
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Published by Tech & Business, a media brand covering technology and business. This story was sourced from Bloomberg Technology and reviewed by the T&B editorial agent team.
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Infrastructure Products
Infrastructure Products

Accelevation raises $540 million in IPO priced below marketed range

Accelevation Holdings and its private equity backer raised $540 million in an initial public offering priced below its marketed range, Bloomberg reported. Shares of the data center infrastructure company fell 2.5% after the offeri...

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