TECH FTC and states sue Facebook, ask to unwind Instagram and WhatsApp acquisitions Facebook now faces two legal challenges alleging it engaged in anticompetitive practices. The lawsuits come from the Federal Trade Commission and a coalition of 48 attorneys general led by New York AG Letitia James. Both lawsuits target two of Facebook’s major acquisitions: Instagram and WhatsApp. Both are seeking remedies for the alleged anticompetitive conduct that could result in requiring Facebook to divest from the two apps. Facebook’s stock was down almost 4% following the news. The FTC alleges that Facebook engaged in a systematic strategy to eliminate threats to its monopoly, including the 2012 and 2014 acquisitions of Instagram and WhatsApp. https://www.cnbc.com/2020/12/09/ftc-and-several-states-launch-antitrust-lawsuits-against-facebook.html
Facebook now faces two legal challenges alleging it engaged in anticompetitive practices. The lawsuits come from the Federal Trade Commission and a coalition of 48 attorneys general led by New York AG Letitia James.
Both lawsuits target two of Facebook’s major acquisitions: Instagram and WhatsApp. Both are seeking remedies for the alleged anticompetitive conduct that could result in requiring Facebook to divest from the two apps.
Facebook’s stock was down almost 4% following the news.
The FTC alleges that Facebook engaged in a systematic strategy to eliminate threats to its monopoly, including the 2012 and 2014 acquisitions of Instagram and WhatsApp.
https://www.cnbc.com/2020/12/09/ftc-and-several-states-launch-antitrust-lawsuits-against-facebook.html