FTC sues Facebook in antitrust lawsuit as regulators mount offensive
Cointelegraph
Published Dec 10, 2020 06:49AM ET
Updated Dec 10, 2020 08:20AM ET
The United States Federal Trade Commission has filed a lawsuit against Facebook (NASDAQ:FB), Inc., where it alleges that the corporation has been engaging in anti-competitive practices ever since acquiring a dominant global position at the turn of the 2010s.
According to public case files released on Wednesday, the regulator believes that Facebook has systematically purchased or reproduced the features of any social media competitor that could have posed a threat to the company’s dominance. The lawsuit cites the 2012 purchase of Instagram and 2014 acquisition of WhatsApp as the most egregious examples of anti-competitive practices.
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Written By: Cointelegraph
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