00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Meta Platforms heads to federal court in Oakland this week to face claims from state attorneys
00:06general that Facebook and Instagram were designed to hook young users, according to Benzinga.
00:11The social media giant estimates potential damages at $1.4 trillion.
00:15The case was brought by a bipartisan coalition of 29 states, with California, Colorado, Kentucky,
00:21and New Jersey participating in the first federal trial. The states allege Meta used
00:25features including infinite scroll, autoplay, notifications, and light counters to encourage
00:30compulsive use among minors. They also accuse Meta of collecting data from children under 13
00:34without parental consent. Meta denies the claims and says the requested damages are disproportionate.
00:40CEO Mark Zuckerberg and Instagram head Adam Masseri are on the witness list.
00:44For all things money, visit Benzinga.com.
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