Meta Platforms, Inc (NASDAQ:META) stock gained over 1% on Wednesday as traders balance mounting legal risks against a broadly constructive tape, with the S&P 500 up 0.4% and the Communication Services sector gaining 1.1%.
A California trial is putting Meta’s legal exposure back in focus after 29 state attorneys general accused the company of illegally collecting children’s data and misleading consumers about safety, with U.S. District Judge Yvonne Gonzalez Rogers set to decide the case alongside a nonbinding advisory jury verdict. Meta has said potential damages could reach $1.4 trillion.
