I=6
Meta paid $9 million to settle the Breathitt County School District lawsuit
- Breathitt County School District houses more than 1,600 children and was seeking over $60 m from social media platforms.
- Social media platforms (Meta, TikTok and YouTube) will pay $27 m in total, less than half of what Breathitt County School District was seeking.
- None of the companies have to acknowledge any fault under the settlements, nor are they obligated to alter how their platforms function or operate.
Assessment
I think this was somehow good news for Meta Platforms since the settlement amount is less than half of what was being sought. Also, Meta won’t be required to make changes to the platforms. I expect more settlements and I still think the total headwind from these bellwether cases may be less than $15 billion, with no significant changes to how the company operates.