Tech investors sue Trump administration, accusing it of violating TikTok ban [CBS News]
Meta Platforms, Inc. - Class A (META)
Company Research
Source: CBS News
of failing to enforce a law that required TikTok to either separate from its China-based owner or face a ban in the United States. The 33-page lawsuit, which was filed Thursday in the Washington, D.C., Circuit Court of Appeals, asked the court to declare that the administration's multiple extensions to forestall the shutdown of TikTok last year were unlawful. President Trump instead opted multiple times to grant extensions. It also argues a deal that was cut earlier this year for new investors to take over TikTok's U.S. operations did not comply with the law. The plaintiffs are ZhaoCheng Tan and Garrett Reid, who are investors in Google parent company Alphabet Inc. and Facebook parent Meta Platforms, respectively. They argue in their lawsuit: "Such relentless violation of the law has harmed petitioners, who have invested in companies that compete with TikTok's American operations. When the illegal sale was announced, petitioners suffered financially. By sanctioning an unlawful d
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META
Earnings
- 1/28/26 - Beat
META
Sec Filings
- 3/4/26 - Form 4
- 3/3/26 - Form 4
- 3/2/26 - Form 144
- META's page on the SEC website