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VisitTikTok Sues U.S. to Block Ban Affecting 170 Million, Cites First Amendment
May 7, 2024, 04:22 PM
TikTok and its parent company ByteDance have filed a lawsuit against the U.S. government, challenging a new law signed by President Joe Biden that mandates the divestiture of the social media platform or face a nationwide ban. The companies argue that the law, which could lead to TikTok's shutdown by January 19, 2025, and affects 170 million American users, violates users' First Amendment rights. The lawsuit highlights concerns over ByteDance's extensive control over TikTok and its impact on free speech.
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Markets
No significant public protests • 50%
Significant public protests occur • 50%
News reports and social media monitoring
No • 50%
Yes • 50%
Government announcements or enforcement actions reported in major news outlets
Favorable to TikTok • 50%
Unfavorable to TikTok • 50%
Court ruling documentation or official announcements from judiciary
No change in ownership • 25%
ByteDance sells TikTok • 25%
ByteDance retains majority ownership • 25%
ByteDance divests majority stake • 25%
Corporate announcements and filings
No significant international reaction • 34%
Economic or trade measures against the U.S. • 33%
Supportive statements or actions from other countries • 33%
International news reports and government statements
U.S. government prevails • 33%
TikTok wins outright • 33%
Compromise or settlement reached • 34%
Judicial rulings or settlement announcements