New York City has taken legal action against major social media platforms TikTok, Instagram, Facebook, Snapchat and YouTube for allegedly causing mental health issues among young users. What Happened: On Wednesday, New York City Mayor Eric Adams announced that the city has filed a lawsuit against ByteDance, Meta Platforms Inc. (NASDAQ:META), Snap Inc. (NYSE:SNAP) and Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL), the parent companies of these platforms. Notably, all these companies are headquartered in California. The lawsuit, filed in the Los Angeles County branch of the California Superior Cour…
