financetom
Business
financetom
/
Business
/
Brazil institute sues social media giants for $525 million over usage by minors
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Brazil institute sues social media giants for $525 million over usage by minors
Nov 3, 2024 1:17 PM

BRASILIA (Reuters) - Brazil's Collective Defense Institute, a consumer rights group, has filed two lawsuits demanding 3 billion reais ($525.27 million) from the Brazilian units of TikTok, Kwai and Meta Platforms for allegedly failing to create mechanisms to prevent indiscriminate use of these social media platforms by minors, according to initial petitions reviewed by Reuters.

WHY IT'S IMPORTANT

Social media regulation has become a hot topic in Latin America's largest country after a months-long feud between X owner Elon Musk and a Brazilian Supreme Court justice resulted in the company paying hefty fines. 

DETAILS

The lawsuits demand the companies create clear data protection mechanisms and issue warnings about the risks to children's and teenagers' mental health due to platform addiction.

The lawsuits are based on a series of studies on the possible damage caused by unsupervised use of social media, especially by children and teenagers.

KEY QUOTE

"It is urgent that measures be adopted in order to change the way the algorithm works, the processing of data from users under 18, and the way in which teenagers aged 13 and over are supervised and their accounts created, in order to ensure a safer, healthier experience ... as is already the case in developed countries," said lawyer Lillian Salgado, one of the plaintiffs.

THE RESPONSE

Meta Platforms said in a statement that it wants "young people to have safe and age-appropriate experiences on our apps, and we have been working on these issues for over a decade, developing more than 50 tools, resources, and features to support teens and their guardians."

The company, which owns Facebook, Instagram and WhatsApp, also said it had recently announced a new "Teen Account" on Instagram, which will arrive in Brazil soon and promises to automatically limit the accounts teenagers can see and who may contact them.

TikTok said it had not received any notice about the case, while Kwai, a social media site based around short videos, said in a statement that user safety is one of its priorities, specially when it comes to minors.

($1 = 5.7113 reais)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Siteone Landscape Supply Insider Sold Shares Worth $1,621,000, According to a Recent SEC Filing
Siteone Landscape Supply Insider Sold Shares Worth $1,621,000, According to a Recent SEC Filing
Apr 18, 2024
05:06 PM EDT, 04/18/2024 (MT Newswires) -- Doug Black, Director, CEO, on April 17, 2024, sold 10,000 shares in Siteone Landscape Supply ( SITE ) for $1,621,000. Following the Form 4 filing with the SEC, Black has control over a total of 574,657 shares of the company, with 574,657 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1650729/000110465924048914/xslF345X03/tm2412220-1_4seq1.xml ...
Genelux Insider Sold Shares Worth $256,227, According to a Recent SEC Filing
Genelux Insider Sold Shares Worth $256,227, According to a Recent SEC Filing
Apr 18, 2024
05:07 PM EDT, 04/18/2024 (MT Newswires) -- Aladar Szalay, 10% Owner, on April 16, 2024, sold 71,420 shares in Genelux ( GNLX ) for $256,227. Following the Form 4 filing with the SEC, Szalay has control over a total of 4,113,885 shares of the company, with 4,113,885 controlled indirectly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1231457/000141588924011137/xslF345X03/form4-04182024_090450.xml ...
Samsara Insider Sold Shares Worth $2,950,277, According to a Recent SEC Filing
Samsara Insider Sold Shares Worth $2,950,277, According to a Recent SEC Filing
Apr 18, 2024
05:05 PM EDT, 04/18/2024 (MT Newswires) -- Sanjit Biswas, 10% Owner, Director, CEO, on April 16, 2024, sold 96,000 shares in Samsara (IOT) for $2,950,277. Following the Form 4 filing with the SEC, Biswas has control over a total of 3,107,312 shares of the company, with 1,703,391 shares held directly and 1,403,921 controlled indirectly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1642896/000141588924011133/xslF345X03/form4-04182024_080455.xml ...
Xcel Energy Files Mixed Shelf
Xcel Energy Files Mixed Shelf
Apr 18, 2024
05:09 PM EDT, 04/18/2024 (MT Newswires) -- Xcel Energy ( XEL ) filed an automatic shelf registration statement Thursday for the potential sale of securities from time to time. The filing covers its senior debt securities, subordinated debt securities, junior subordinated debt securities, common stock, preferred stock, depositary shares, warrants, rights, purchase contracts, and units. The company said it will...
Copyright 2023-2026 - www.financetom.com All Rights Reserved