Federal Trade Commission Takes Facebook to Court… Again
The FTC hopes to prove in an 80-page complaint that Facebook holds damaging monopoly power over competitorsLast week, the Federal Trade Commission (FTC) filed an amended complaint against Facebook, trying again for an antitrust lawsuit after a federal judge dismissed their original complaint earlier this summer. The updated complaint alleges that Facebook has violated antitrust laws and garnered monopoly power, namely by buying up rival companies and imposing unfair policies that “neutralize perceived competitive threats.” Facebook is the world’s dominant online social network, with a purported three billion-plus regular users. Facebook has maintained its monopoly position in significant part by pursuing Chief Executive Officer (“CEO”) Mark Zuckerberg’s strategy, expressed in 2008: “it is better to buy than compete.” True to that maxim, Facebook has systematically tracked potential rivals and acquired companies that it viewed as serious competitive Read More ›