#Trump, Bondi face lawsuit over approval of #ByteDance #TikTok US asset sale
Trump & Attorney General #PamBondi were sued Thursday over the US government's approval of a deal by TikTok's Chinese owner ByteDance to establish a majority American-owned joint venture, saying the approval was illegal & did not meet the requirements of a 2024 #law.
The lawsuit was filed in the US Court of Appeals for the District of Columbia by the Public Integrity Project on behalf of two retail US investors in rival #socialmedia firms. It aims to require a renegotiation of the deal "that doesn't put administration allies in a position to #censor #political #content on one of the world's most popular #media platforms."
The lawsuit does not seek to force a ban on #TikTok, which is used by 200 million Americans.
#Congress passed #legislation in April 2024 requiring #ByteDance to sell its US assets by January 2025 or face a ban or potentially hundreds of billions of dollars in fines -- but #Trump opted not to enforce the law & #PamBondi told companies they would face no liability for continuing to allow TikTok use.
#ByteDance said #TikTok USDS Joint Venture LLC -- which was finalized in January & is 80% owned by non-Chinese investors -- would secure #US #user #data, apps & algorithms through data #privacy & #cybersecurity measures. It disclosed few details about the divestiture or the financial arrangements.
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Isaac Ji Kuo
Shirley Eugest
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