00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Snapchat parent Snap has reached a settlement with two teenagers who accused the company of
00:08designing its platform to encourage addictive behavior, contributing to depression, anxiety,
00:13and eating disorders, according to NBC News. The settlement comes after jury selection began
00:19last week in a Los Angeles trial. The plaintiffs had already settled with Meta, TikTok, and YouTube.
00:26Snap CEO Evan Spiegel had been expected to testify. The case was selected from thousands of lawsuits
00:32challenging social media companies over their platform's impact on young users. The teenagers
00:38blamed features such as autoplay and infinite scroll for encouraging compulsive use. Snap says
00:44it has introduced safeguards and remains committed to user safety. Additional trials are scheduled to
00:50begin in March. For all things money, visit Benzinga.com.
