• Lobbying groups representing Facebook parent Meta Platforms Inc (NASDAQ: FB), Twitter Inc (NYSE: TWTR), Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL), Google, and other tech companies filed an emergency request with the U.S. Supreme Court, Reuters reports.

• The groups looked to block a Texas law prohibiting sizeable social media platforms from banning users based on their political views.

• Also Read: Google, Facebook Restrict Social Media Presence Of Hong Kong's Leadership Candidate

• The law would forbid social media companies with over 50 million active users per month from banning members based on their political views and require them to disclose how they moderate content publicly.

• Internet lobbying groups NetChoice and the Computer & Communications Industry Association filed a lawsuit against the law. In Austin, Texas, U.S. District Judge Robert Pitman issued a preliminary injunction in December.

• Pitman found that the law would harm social media companies' free speech rights.

• Price Action: FB shares traded higher by 0.92% at $200.44 on the last check Monday.

• Photo by PhotoMIX-Company from Pixabay

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