Social-media legal risk resurfaces as Meta and Pinterest slide ahead of youth trial
Meta Platforms and Pinterest each fell about 4% as a landmark 29-state youth-safety trial opens in Oakland, with Mark Zuckerberg and Instagram head Adam Mosseri set to testify over alleged teen harm and COPPA violations. Plaintiffs seek damages potentially running into trillions; Meta argues the claims are unsubstantiated while noting industry-wide challenges. The stock moves reflect investors repricing regulatory and litigation risk across social media, with peers like Snap and YouTube-related stocks also under pressure amid ongoing litigation and related insurance concerns around a BlackRock–Meta data-center venture.