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theodore M I R A L D I mpa ... editor, publisher, writer
Thursday, December 3, 2020
US States Plan to SUE Facebook Next Week
It is not known what the states plan to include in their complaint
A group of U.S. states led by New York is investigating Facebook Inc for possible antitrust violations and plans to file a lawsuit against the social media giant next week, four sources familiar with the matter said on Wednesday.
It is not known what the states plan to include in their complaint. One allegation often made against Facebook is that it has strategically sought to buy small potential rivals, often at a big premium. These include Instagram in 2012 and WhatsApp in 2014.
Facebook Chief Executive Mark Zuckerberg has argued in congressional testimony that the company has a range of competitors, including other tech giants. He has defended controversial acquisitions like Instagram and WhatsApp by saying the social media platform helped them expand from small, insignificant companies into powerhouses.
The Justice Department and FTC in 2019 began antitrust investigations into the four big tech companies, which also include Amazon.com Inc and Apple Inc. Shortly after that, attorneys generals quickly joined together to probe Google and Facebook.
(Reporting by Diane Bartz; Editing by Richard Chang)