Meta and a coalition of state attorneys general settled a federal case regarding allegations that the social media company misrepresented the extent of mental health harms to children caused by apps like Facebook and Instagram. 

A court filing released on Wednesday provides details on several requirements Meta must make to its apps as part of the "consent judgment," in addition to paying $16.7 billion, CNBC reported. 

These changes would provide limits on daily usage and "nighttime blocks" for teenagers, improve age assurance measures to prevent children from using the apps, and create additional tools for parents and guardians. 

The settlement comes during the second week of the trial, which took place at the Oakland federal courthouse. The lawsuit was co-led by California Attorney General Rob Bonta and the attorneys general from New Jersey and Kentucky, who represent a bipartisan group of 29 attorneys general in a combined case stemming from a 2023 lawsuit.

Shares of Meta jumped 5% during premarket trading after reports of the settlement.