Market Chatter: Meta Sued in Australia Over Alleged Social Media Harm to Minors

04:06 AM EDT, 10/22/2026 (MT Newswires) -- Meta Platforms Inc. (META) has been sued in Australia over allegations that its social media platforms, Facebook and Instagram, exposed children to harmful content and used algorithms to keep them addicted, Reuters reported Thursday. The class-action lawsuit was filed in the Federal Court of Australia this month by the law firm MinterEllison on behalf of eight plaintiffs, who allege that they were harmed by Meta while they were minors and are seeking compensation. A court suppression order prohibits reporting information that could identify the applicants or reveal the statement of claim, Reuters said. "We are aware of this claim and we will defend ourselves vigorously," a Meta spokesperson said, according to the report. Representatives for Meta and MinterEllison did not immediately respond to MT Newswires' request for comment. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)