US antitrust siege of tech widens with lawsuits vs Facebook
4 years ago

US antitrust siege of tech widens with lawsuits vs Facebook

Associated Press  

WASHINGTON — The giant tech companies whose services are woven into the fabric of social life are now the targets of a widening assault by government competition enforcers. The Federal Trade Commission and 48 states and districts sued the social network giant, accusing it of abusing its market power to squash smaller competitors and seeking remedies that could include a forced spinoff of Facebook’s prized Instagram and WhatsApp messaging services. The FTC said Facebook has engaged in a “a systematic strategy” to eliminate its competition, including by purchasing smaller up-and-coming rivals like Instagram in 2012 and WhatsApp in 2014. At a news conference, James said “it’s really critically important that we block this predatory acquisition of companies and that we restore confidence to the market.” “For nearly a decade Facebook has used its dominance and monopoly power to crush smaller rivals and snuff out competition, all at the expense of everyday users,” said James, a Democrat. “These lawsuits mark an important turning point in the battle to rein in Big Tech monopolies and to reinvigorate antitrust enforcement,” said Alex Harman, competition policy advocate for Public Citizen, a nonprofit consumer advocacy group.

History of this topic

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