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16 Social Media’s New Legal Overhang

The Information
Martin Peers @ The Information 2 place · today 20:00 EDT

Social Media’s New Legal Overhang

It was a brutal day on Wall Street—particularly for shares of Meta Platforms, Reddit and Snap. While the Nasdaq dropped 2.4%, shares of the social media firms plunged between 8% and 10% as the implications of Wednesday’s verdict in the social media addiction lawsuit sank in. That verdict, which found Meta and Google’s YouTube liable for negligence, didn’t concern either Snap or Reddit, mind you. Snap had settled before the trial and Reddit was never involved. But investors seem to be more worried about what

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