$META reaches $16.68 billion settlement over social media harms to children

I guess this is a cost of doing business as a settlement, how do you think this will affect their long term prospects? SP dropped around 15% YTD.

Yahoo: [https://finance.yahoo.com/news/meta-settles-us-states-over-130318028.html](https://finance.yahoo.com/news/meta-settles-us-states-over-130318028.html)

"Meta Platforms agreed to pay a maximum $16.68 billion as part of a settlement to resolve claims brought by states across the country that the company designed Facebook and Instagram to addict children, misled consumers about their safety, and improperly collected personal data ‌of children who used its platforms, court papers show.

The settlement was reached during a California federal trial over claims brought by 29 states, ‌averting one of the highest-profile tests yet of allegations that social media companies harmed young users.

Meta also agreed to make changes for teenage users of Facebook and Instagram nationwide, including daily usage limits ​and nighttime blocks, court papers show.

The Menlo Park, California-based company denied wrongdoing in agreeing to settle.

Shares of Meta rose 4.4% in pre-market trading."

SP seems to be dropping now, I imagine this will not prevent the other lawsuits from coming in a bit like what happened with big tobacco, where other companies get sued, precedents get set and other countries follow suit?