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Snap shares drop as FTC refers MyAI chatbot complaint to the DOJ

Snap CEO Evan Spiegel, joins CNBC 'Power Lunch' on September 17, 2024.CNBCSnap shares closed down 5% on Thursday after the Federal Trade Commission said it would refer a complaint against the company to the Department of Justice.The FTC's non-public complaint involves allegations that Snapchat's My AI chatbot poses "risks and harms to young users," the commission said in a statement. The complaint stems from the FTC's compliance reviews with Snap following a 2014 settlement regarding allegations...

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