Snap has settled a lawsuit brought by two teenagers who alleged that the company designed Snapchat to be addictive, contributing to their depression, anxiety, and eating disorders. This case was part of broader litigation against social media firms like Meta, TikTok, and YouTube, which have faced similar claims. The settlement follows previous agreements with Meta, TikTok, and YouTube, and avoids a trial where Snap's CEO was expected to testify. These lawsuits highlight ongoing concerns about social media's impact on youth mental health and the companies' responsibilities.
Snap shares rose 3.55% to USD 5.54 on Pluang, showing positive market reaction despite the legal settlement. Meta's stock dipped slightly by 0.29% to USD 613.22, while Alphabet gained 1.46% to USD 283.93. These movements reflect ongoing investor focus on major media companies as of Nov 03, 2026 01:31 WIB.
Meta Platforms has settled with a teen plaintiff who accused the company of designing Instagram and Facebook to be addictive, causing mental health issues. The settlement occurred just after jury selection began for a trial involving two teens suing ...
Reddit reported strong Q3 2026 earnings with revenue up 53% and net income rising 74%, beating analyst expectations. However, its stock fell 25% as CEO Steve Huffman warned that Google's AI-powered search is reducing Reddit's referral traffic, potent...
Reddit's stock dropped 5% before its Q3 2026 earnings report due to worries about slowing U.S. user growth, contributing to a 44% year-to-date loss. The company forecasts slower revenue growth for Q3 compared to Q2, with international user growth out...
