U.S. FTC says court should allow antitrust lawsuit against Facebook to proceed

Author of the article: WASHINGTON — The U.S. Federal Trade Commission said on Wednesday that a federal court should allow an antitrust lawsuit it filed against Facebook to go forward as the company has “interfered with the competitive process by targeting nascent threats through exclusionary conduct.” In August the FTC refreshed its antitrust case against…
U.S. FTC says court should allow antitrust lawsuit against Facebook to proceed

Author of the article:

WASHINGTON — The U.S. Federal Trade Commission said on Wednesday that a federal court should allow an antitrust lawsuit it filed against Facebook to go forward as the company has “interfered with the competitive process by targeting nascent threats through exclusionary conduct.”

In August the FTC refreshed its antitrust case against Facebook, now Meta Platforms, adding detail on the accusation the social media company crushed or bought rivals and asking a judge to force it to sell Instagram and WhatsApp.

The lawsuit represents one of the most significant challenges the FTC has brought against a tech company in decades, and is being closely watched as Washington aims to tackle Big Tech’s extensive market power.

In a filing with the U.S. District Court for the District of Columbia, the FTC said that for more than a decade, Facebook’s market share – for example, more than 70% of daily active users – exceed the levels needed to establish monopoly power.

It said that Facebook sought to maintain its monopoly position by buying photo-sharing app Instagram and secure messaging app WhatsApp.

Meta disagreed.

“The FTC has once again brought a monopolization case without a monopolist. Its claims ignore the reality that people have more choices than ever before in how they share, connect, and communicate, and its second complaint should be dismissed just like the first,” a Meta spokesperson said in a statement.

The FTC also argued that Facebook was wrong to ask that Chair Lina Khan be recused from voting to approve the amended complaint. The FTC said it was originally filed before she was nominated to the commission and it would be the court, not the commission, which decided the case.

Facebook had said that Khan prejudged the case because of her previous work. (Reporting by Diane Bartz and Chris Sanders, Editing by Rosalba O’Brien and Grant McCool)

Financial Post Top Stories

Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.

By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300

Read More

Total
0
Shares
Leave a Reply

Your email address will not be published.

Related Posts
Data Connectors Announces Wide-Reaching Cybersecurity Conference Schedule for 2023
Read More

Data Connectors Announces Wide-Reaching Cybersecurity Conference Schedule for 2023

Author of the article: Cybersecurity Leaders to Meet, Network throughout the United States, Canada and Latin America CHESTERFIELD, Mo., Aug. 22, 2022 (GLOBE NEWSWIRE) — The Data Connectors Cybersecurity Community has announced its 2023 Conference schedule, giving security leaders from across the United States, Canada and Latin America a unique opportunity to learn cutting-edge information…
OECD urges Japan to keep fiscal, monetary support for economy
Read More

OECD urges Japan to keep fiscal, monetary support for economy

Author of the article: Reuters Daniel Leussink and Kantaro Komiya TOKYO — Japan must maintain its expansive fiscal policy until its economic recovery from the pandemic is on track and not dial back its ultra-loose monetary policy too soon, the Organisation for Economic Cooperation and Development (OECD) said on Friday. The coronavirus pandemic hit the…
UK PM Boris Johnson loses two ministers in grave blow
Read More

UK PM Boris Johnson loses two ministers in grave blow

Author of the article: Reuters Elizabeth Piper and Alistair Smout and Andrew Macaskill LONDON — British Prime Minister Boris Johnson was fighting for his political survival on Tuesday after finance minister Rishi Sunak and another senior minister abruptly resigned over the latest scandal to blight his administration. Sunak and health minister Sajid Javid sent resignation…