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VisitTikTok Sues U.S. Over Law Threatening Ban, Cites First Amendment Rights
May 7, 2024, 09:42 PM
TikTok and its Chinese parent company ByteDance have filed a lawsuit against the U.S. government challenging a new law signed by President Joe Biden. The law mandates ByteDance to either sell its 20% stake in TikTok or face a ban of the app in the United States, affecting its 170 million users. The companies argue that the law, which could force TikTok to shut down by January 19, 2025, violates the First Amendment rights of its users. They claim the law is unconstitutional and have sought judicial intervention to prevent its enforcement.
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Markets
Law is unconstitutional • 50%
Law is upheld • 50%
Official court documentation or major news outlets reporting the court's decision
ByteDance retains its stake • 50%
ByteDance sells its stake • 50%
ByteDance official announcements or credible business news reports
No enforcement action taken • 50%
Enforcement action taken • 50%
U.S. government public records or major news outlet reports
Decrease in global user base • 25%
Increase in global user base • 25%
Shift in user demographics • 25%
No significant change in global user base • 25%
User statistics reports from independent tech analysis firms or TikTok's own reports
Significant positive impact on ByteDance valuation • 25%
No significant change in ByteDance valuation • 25%
Significant negative impact on ByteDance valuation • 25%
Mixed or unclear impact on ByteDance valuation • 25%
Stock market data and analysis reports
U.S. government wins lawsuit • 33%
Case settled out of court • 34%
TikTok wins • 33%
TikTok loses • 33%
Settlement reached • 34%
TikTok wins lawsuit • 33%
Court ruling documents or major legal news outlets