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Update: Market Chatter: Meta Settles School Suit Alleging Harmful Effects of Social Media Addiction

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(Updates with Meta's response to a request for comment from.)

Meta Platforms (META) reached an agreement with the Breathitt County School District to settle a lawsuit alleging that addiction to top social media platforms has upended learning and forced public schools to spend large amounts of resources fighting a mental health crisis, Bloomberg reported Thursday.

Snap (SNAP), Alphabet's (GOOG, GOOGL) YouTube and TikTok settled with the school district a week ago, according to the report.

"We've resolved this case amicably and remain focused on our longstanding work to build protections like Teen Accounts that help teens stay safe online, while giving parents simple controls to support their families," a Meta spokesperson toldvia email.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $608.35, Change: $+3.29, Percent Change: +0.54%

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