Potential TikTok buyer will also acquire 1,500 safety and privacy lawsuits

1,500

TikTok’s legal baggage could be just as heavy as its user base.

The popular social media app is facing an estimated 1,500 pending lawsuits, with allegations ranging from fueling a youth mental health crisis to misusing user data for profit. Since unresolved lawsuits typically transfer in corporate takeovers, any buyer of TikTok’s operations would inherit the legal challenges. In the US, that includes a DOJ lawsuit filed against TikTok and its parent company, ByteDance, last year over alleged child privacy violations.

Bloomberg Intelligence estimates total legal costs could stretch into the billions.

More Business

See all Business

Max Knoblauch23h

GM has reportedly rehired more than 100 former Cruise employees, 18 months after shuttering the robotaxi unit

GM has rehired more than 100 employees it let go early last year when it shuttered Cruise, its former robotaxi business, according to reporting by The Information.

The hiring spree, which also includes employees from Nvidia and Uber, is geared toward ramping up GM’s plans for personal-use self-driving vehicles and not robotaxis. The former had been the focus of Cruise, prior to GM shuttering it in 2024.

Reporting last fall revealed that GM was attempting to rehire some former Cruise employees, but the scope of that effort wasn’t clear. More than 1,000 employees were laid off when the automaker scrapped Cruise, which it invested $10 billion into.

Google’s Waymo, Cruise’s former chief rival, is now worth $126 billion after a $16 billion funding round earlier this year. The company says it’s serving 500,000 paid robotaxi rides per week in the US.

Exclusive: With Some 100 Rehired Cruise Employees, GM Pursues Eyes-Off Autonomous Cars

Claire Yubin Oh

vsxy

6/4/26

How Victoria’s Secret finally managed to get its sexy back

After years of struggle, Victoria’s Secret shares have been hitting new highs this week.

Victoria's Secret Fashion Show 2025 - Runway

With gas prices soaring, the humble sedan is making a comeback

Recent US sales data reveals a “sedanaissance” among major automakers like Honda, Hyundai, and Toyota.

Max Knoblauch6/3/26

Claire Yubin Oh

Franchise with that?

6/3/26

McDonald’s has a new strategy: Make its stores “easier to run”

Franchised and affiliated locations already make up over 95% of McDonald’s store count and 62% of its sales.

Old McDonald's restaurant in Downey, Los Angeles, California, USA

Tom Jones

hut’s off

6/1/26

Yum! Brands might have found a potential buyer for Pizza Hut

Yum! is in exclusive talks with private equity firm LongRange Capital about a sale, per reports.

Latest Stories

Sherwood Media, LLC and Chartr Limited produce fresh and unique perspectives on topical financial news and are fully owned subsidiaries of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, Robinhood Money, LLC, Robinhood U.K. Ltd, Robinhood Derivatives, LLC, Robinhood Gold, LLC, Robinhood Asset Management, LLC, Robinhood Credit, Inc., Robinhood Ventures DE, LLC and, where applicable, its managed investment vehicles.