The teen-friendly social media site, a former acquisition of AOL, is in up to its neck. The filing follows a lawsuit against owner Criterion by smaller investors, claiming mismanagement of the site.
New data from Piper Jaffray says that 10% fewer teens placed Facebook at the top of their list for social networking in 2013 than in 2012. Twitter and other big names have also fallen a bit out of favor, and only Pinterest is more popular.
