Court rejects FTC’s complaint that Facebook is a monopoly

The new FTC chief will lead any further action, Lina KhanShe is an outspoken critic of the big tech companies who first came to prominence when she argued that antitrust laws focused on pricing were not enough to check Amazon’s strength.

But while the FTC has another chance in this case, the judge dismissed a separate lawsuit brought by 48 states challenging Facebook’s takeover of Instagram and Whatsapp, saying they waited too long to file their case. He noted that this issue of timing did not exist for the Federal Trade Commission, which could choose to investigate a merger at any point it believed to have a cause.

Facebook — and its investors — described the decision as a victory. In the wake of the decision, the company’s share price rose 4.2%, topping its market value above $1 trillion for the first time in its history.

Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button