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Meta CDR (CAD Hedged)
Symbol META
Shares Issued 27,900,000
Close 2026-08-25 C$ 30.27
Market Cap C$ 844,533,000
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Globe/wire say Meta denies addicting kids for profit

2026-08-26 09:28 ET - In the News

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The Globe and Mail reports in its Wednesday, Aug. 26, edition that Adam Mosseri, Instagram's top executive, testified on Tuesday in a trial concerning whether Meta designed Instagram and Facebook to addict children while neglecting their safety. A Reuters dispatch to The Globe says Mr. Mosseri, Instagram's head since 2018, is a key witness in a lawsuit filed by 29 U.S. states, marking a major legal test of social media's impact on young users. California, Colorado, Kentucky and New Jersey have accused Meta of designing platforms that hook young users, causing anxiety, depression and even suicide, while misleading consumers about safety. All 29 states say Meta violated federal law by children under 13 while they used its platforms. The states could seek nearly $200-billion (U.S.) in civil penalties. Meta denied claims of trying to addict children for profit and stated that its research found no clear link between teens' social media use and decreased well-being. The trial in the Oakland, Calif., federal court is expected to continue through much of September. U.S. District Judge Yvonne Gonzalez Rogers will determine Meta's liability and any civil penalties or changes to Facebook and Instagram.

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