Meta challenges Washington political disclosure law after $17 billion settlement

Meta is preparing to petition the U.S. Supreme Court to challenge Washington state’s political spending disclosure law. This legal battle follows a June decision by the Washington State Supreme Court that upheld a $35 million penalty against the company for repeated and willful violations of a 1972 law requiring media companies to disclose campaign advertising expenditures.

In a separate legal matter, Meta recently reached a $17 billion settlement with more than 47 state attorneys general regarding claims that the company harmed children. Despite this massive payout, Meta’s market capitalization saw a significant increase, rising from approximately $1.44 trillion on August 25 to roughly $1.57 trillion by September 3, shortly after the settlement was announced.