Canadian school boards sue social media giants for over $4 bln in damages [Reuters]
Meta Platforms, Inc. - Class A (META)
Company Research
Source: Reuters
as Meta Platforms (META.O) , opens new tab and Snap (SNAP.N) , opens new tab in a lawsuit, alleging that their products harmed students. The products are "negligently designed for compulsive use, have rewired the way children think, behave and learn", a joint statement by the boards said on Thursday. That has caused learning and mental health crises in students, resulting in the schools having to invest more in support programs, they said. Several studies have shown that platforms like Facebook and Instagram can be addictive and their prolonged use can lead to anxiety and depression. Thirty-three U.S. states had last year sued Meta , opens new tab , accusing its product cause mental health issues among young children and teenagers. The Canadian lawsuit has also named TikTok, the short-video social media platform from China's ByteDance. The action has been brought on by Toronto District School Board, Peel District School Board, Toronto Catholic District School Board, and Ot
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META
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META
Earnings
- 2/1/24 - Beat
META
Sec Filings
- 4/26/24 - Form 144
- 4/25/24 - Form 4
- 4/24/24 - Form PX14A6G
- META's page on the SEC website