News via social media is both a benefit and a curse.
The most obvious example of the curse happened with the recent shootings in Newtown. False information was spread like wildfire when news organizations falsely accused the yet still alive brother as being the shooter. The fallout from that caused a huge ripple in the media outlets and among people who got too emotional during the event.
That being said, having information faster is hugely important. We knew that something was happening when it happened. Is that a good thing? Some may disagree but some events are more important than others.
To conclude, the news media is extremely responsible for having to confirm information before reporting it as fact. Anyone can start a hurtful rumor