During early trading on Tuesday, Meta Platforms, Inc. (META) shares declined by 0.66%, following opening statements presented to a California jury. The case alleges that Instagram, owned by Meta Platforms, Inc., and YouTube, owned by Alphabet (GOOGL), intentionally designed addictive features that harmed teenagers. The outcome of this trial could set a precedent for over 1,500 similar lawsuits. Company executives are expected to testify as the proceedings advance.
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