US Government Demands to Dismantle Facebook And Cancel WhatsApp And Instagram Purchases

The Federal Trade Commission and a group of states headed by New York have filed lawsuits against social networking giant Facebook, alleging that it abused its monopolistic power in the market to eliminate competition.

The antitrust authorities and a group of U.S. states have filed a lawsuit against Facebook (-1.93% 277.92) for abusing its monopolistic power in the market to eliminate competition. This is the second lawsuit filed in less than two months in the U.S. against an American technology giant In the market, after the lawsuit filed against Google.

The Federal Trade Commission (FTC) and state prosecutors, led by New York, filed antitrust lawsuits against Facebook tWednesday, claiming that its conduct prevented competition from protecting its monopoly. The lawsuit filed by the commission includes a request for a court order requiring Facebook to cancel WhatsApp and Instagram purchases.

The lawsuit is the sharpest regulatory move against Facebook since its inception. If the Trade and States Commission lawsuit succeeds in proving that Facebook has violated antitrust laws, the court could order the dissolution of Facebook, including splitting its main social media platform from WhatsApp and Instagram.

“Personal use of social networks plays a key role in the lives of millions of Americans,” said Ian Conner, head of competitiveness at the Trade Commission. “Facebook’s efforts to deepen and maintain its monopoly are depriving consumers of the fruits of competition. Our goal is to undo the anti-competitive steps Facebook has taken and restore competition so that innovation and free competition can thrive.”

Facebook has crushed or blocked anything that appears to her to be a potential threat, New York State Attorney General Tisha James told an online news conference.

Facebook used “huge sums of money” to acquire companies that could threaten its control, especially WhatsApp and Instagram, James added. The purpose of the company’s moves was to “pump every drop of oxygen out of the room.”

According to the Trade Commission, Facebook violated antitrust laws when it acquired Instagram in 2012 and WhatsApp in 2014, two acquisitions that the commission said were designed to eliminate new competition from the company. The Commission examined the two transactions and approved them when announcing them.

The lawsuit against Facebook comes after the US Department of Justice filed a lawsuit in October against Google, a subsidiary of Alphabet (-1.89% 1784.13), for violating antitrust laws by abusing its control of the Internet search, in which it controls a 90% share. From the U.S. market. A senior Justice Department official noted at the time of filing the lawsuit that all options are on the table, including splitting the company into several separate companies.

The Justice Department’s lawsuits against Facebook and Google are the most significant antitrust.

Reviewer overview

US Government Demands to Dismantle Facebook And Cancel WhatsApp And Instagram Purchases - /10

Summary

0 Bad!