TikTok, ByteDance Agree to Pay $400 Million to Settle DOJ Children’s Privacy Case

TikTok and its parent company, ByteDance, have agreed to pay $400 million to settle a Justice Department lawsuit accusing the social media platform of violating a federal law designed to protect children’s privacy online, the DOJ announced Friday. Under the settlement, the company will immediately pay $300 million, according to the Justice Department. Another $100 million will be paid after a…