Meta shares hit a 4.96% intraday high after the company agreed to pay up to $16.68 billion to settle claims that Facebook and Instagram harmed young users. The settlement covers claims by 29 US states and requires Meta to introduce usage limits and stronger safeguards for children on its platforms.

Social media giant, Meta, has reached a settlement with 29 US states to resolve a court case over child safety on Facebook and Instagram. According to court documents, the company…

Meta has agreed to pay up to $18 billion and add stronger child-safety measures to its Facebook and Instagram platforms as part of a landmark legal settlement. The deal announced…