A settlement proposal has been filed in federal court, requiring a social media company to introduce new restrictions on accounts held by minors. This move is part of a broader agreement to resolve a lawsuit involving multiple states and jurisdictions.

The company, which operates several well-known platforms, has also agreed to provide parents with more control over their children's accounts. Financial terms of the settlement include a payment of up to $17.1 billion to be shared among the plaintiffs.

Georgia is expected to receive a significant portion of the settlement proceeds, with the state's share estimated to be between $100 million and $135 million.