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Alphabet CDR (CAD Hedged)
Symbol GOOG
Shares Issued 36,150,000
Close 2026-08-26 C$ 54.02
Market Cap C$ 1,952,823,000
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Globe/AP say Meta settles kids case for $17B (U.S.)

2026-08-27 07:09 ET - In the News

See In the News (C-META) Meta CDR (CAD Hedged)

The Globe and Mail reports in its Thursday, Aug. 27, edition that Meta will pay $17-billion (U.S.) and enhance child-safety measures on Facebook and Instagram, following a legal settlement over teen social media addiction involving 47 states. An Associated Press dispatch to The Globe reports that the settlement resolved a key case aimed at holding Meta accountable for its platforms' impact on children's mental health. If approved by the court, the deal will stop an avalanche of litigation by states against Meta, although it still faces lawsuits from individuals and school districts across the United States. For the states, the settlement delivers money for programs to benefit children's mental health, including after-school or summer activities and digital literacy counsellors. Advocates cheered the new protections, including default time limits and the disabling of features such as "like" counts. A Meta spokesman said the changes to its Facebook and Instagram platforms are specific to the U.S. and won't be implemented in Canada. The settlement is a fraction of Meta's 2025 revenue of $201-billion (U.S.). The company urged rivals TikTok and Google's YouTu1be to adopt similar safety measures.

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