Ripped from today’s headlines, four families are suing MySpace because the site didn’t implement safety tools in time to keep their children from being sexually assaulted.

“In our view, MySpace waited entirely too long to attempt to institute meaningful security measures that effectively increase the safety of their underage users,” said Jason A. Itkin, an Arnold & Itkin lawyer.

I certainly hope that if this case goes to trial that the attorney generals in the parents’ respective states go after them as well for neglect. That being said, watch for the demographic buying Helio to take a nosedive among parents buying for their kids but increase among perverts looking to meet kids.