US Stocks Movement | Meta (META.US) falls over 3%, faces potential maximum fine of $1.4 trillion

Sina Finance APP has learned that on Tuesday, Meta (META.US) fell more than 3%, closing at $547.86. According to reports, on August 18, the “Youth Addiction Lawsuit” initiated by attorneys general from 29 U.S. states began trial. The plaintiffs accuse Meta (Meta.US) of intentionally designing Facebook and Instagram to induce teenage addiction, violating the Children's Online Privacy Protection Act (COPPA) as well as relevant state regulations. They are seeking a ruling that Meta broke the law, a fine, and a court order to force Meta to change its social media operating model. The case is being heard by Judge Yvonne Gonzalez Rogers with a jury at the Oakland Division of the U.S. District Court for the Northern District of California.