New York state lawmakers on Friday passed legislation to bar social media platforms from exposing "addictive" algorithmic content to users under age 18 without parental consent, becoming the latest of several states moving to limit online risks to children. A companion bill to restrict online sites from collecting and selling the personal data of underage users also gained final legislative approval in the New York Assembly on Friday, a day after both measures cleared the state Senate. Governor Kathy Hochul is expected to sign both into law.
Meta Platforms is the IBD Stock of The Day. Meta stock is in a consolidation pattern as it recovers from a Q1 letdown.
(Bloomberg) -- Meta Platforms Inc. and other social media companies won the dismissal of novel claims in hundreds of lawsuits brought by school districts seeking to recover costs for addressing the negative impacts of students’ social media use. Most Read from BloombergReal Estate Investors Are Wiped Out in Bets Fueled by Wall Street LoansHere’s Everything Apple Plans to Show at Its AI-Focused WWDC EventPutin’s Wartime Central Banker Tells Him What He Doesn’t Want to HearBehind ‘Suicide Squad,’