Snap sinks as Pennsylvania sues Snapchat over child safety
-8.45% to $5.42 from $5.92
What moved SNAP
- Pennsylvania Attorney General Dave Sunday’s lawsuit cites Snapstreaks, disappearing messages, infinite scrolling and the app’s 13+ rating as evidence of harmful design aimed at keeping young users “compulsively engaged.”
- The complaint alleges Snapchat misrepresents how often sexual content, suicidal ideation and drug-related material reach users in order to preserve its teen-friendly app-store rating.
- Shares fell about 7%, erasing the prior session’s gain.
- The suit was filed about a day before Meta’s $17.1 billion child-safety settlement with a separate group of states.
Sources: The Daily Hodl · 24/7 Wall St.