Reported Earlier, 'Brazil's Collective Defense Institute Has Filed Two Lawsuits Demanding $525.27M From The Brazilian Units Of TikTok, Kwai And Meta Platforms For Allegedly Failing To Create Mechanisms To Prevent Indiscriminate Use Of These Social Media Platforms By Minors' - Reuters News
Portfolio Pulse from Benzinga Newsdesk
Brazil's Collective Defense Institute has filed lawsuits against the Brazilian units of TikTok, Kwai, and Meta Platforms, demanding $525.27 million for allegedly failing to prevent minors' indiscriminate use of their platforms.
October 29, 2024 | 4:16 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Meta Platforms is facing a lawsuit in Brazil demanding $525.27 million for allegedly failing to prevent minors from using its platform indiscriminately.
The lawsuit could lead to financial penalties and increased regulatory scrutiny for Meta Platforms, potentially affecting its stock price negatively in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80