The US Federal Trade Commission has filed a new antitrust lawsuit against Facebook making the claim that the Social Media giant has been conducting business in a monopolistic manner.
Sources report that both the FTC, alongside a multitude of attorneys have each filed 2 individual, albeit similar lawsuits at both the state and federal levels concerning the same thing. Both suits make the claim that the acquisitions of both Instagram and WhatsApp by Facebook fall under anti-competitive monopolizing behavior through shutting down nascent competitors alongside using their platform to prevent further growth of emerging businesses by leveraging access to it.
As consequence to these allegations, the FTC is requesting that the courts split both Instagram and WhatsApp from Facebook based on the claim that these acquisitions were and are illegal. Additionally, Facebook should also be required to give prior notice to and seek approval of any future acquisitions and mergers from both state authorities and the FTC.
In response, Facebook…took to Twitter to say: “The government now wants a do-over with no regard for the impact that precedent would have on the broader business community.”
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