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Facebook Faces A Slate Of Antitrust Lawsuits By The FTC, State Attorneys General
Summary: Facebook was hit with wide-reaching antitrust suits from The Federal Trade Commission and a bipartisan group of 46 states on Wednesday, as reported by The Wall Street Journal. The suit alleges that Facebook used its financial power to buy up or freeze out budding competitors. The suits center around Facebook's acquisition of WhatsApp and Instagram in ...
Facebook was hit with wide-reaching antitrust suits from The Federal Trade Commission and a bipartisan group of 46 states on Wednesday, as reported by The Wall Street Journal.
The suit alleges that Facebook used its financial power to buy up or freeze out budding competitors. The suits center around Facebook's acquisition of WhatsApp and Instagram in the early days of the apps. The suit comes weeks after the Justice Department brought an antitrust lawsuit targeting Google’s flagship search business.
Facebook responded to the suit in a tweet highlighting that the FTC is acting years after approving both the acquisition of both WhatsApp and Instagram without regard to the harmful precedent the action may set within the business community. The suits demonstrate the US government's new mandate to clamp down on large internet platforms.
By Emily Mason
Tags: Antitrust Suit,Facebook,Federal Trade Commission
Link: Facebook Faces A Slate Of Antitrust Lawsuits By The FTC, State Attorneys General [Copy]
