The Supreme Court agreed to hear a bid by Facebook to scuttle a private securities fraud lawsuit accusing the social media platform of misleading investors about the misuse of its user data.
Read More US Supreme Court to hear Facebook bid to scuttle shareholder lawsuit
Shares of Reddit rose 14% on Friday, following a partnership with artificial intelligence firm OpenAI that is expected to draw in more users for the social media platform.
Read More Reddit stock jumps after OpenAI partnership
The price cut follows mounting criticism from privacy activists and consumer groups about Meta’s no-ads subscription service.
Read More Meta offers to almost halve Facebook and Instagram monthly fees