Meta’s Plea to Dismiss FTC’s Antitrust Suit Rejected
January 12 2022 - 08:42AM
TipRanks
A U.S. district court has given its green light to The Federal
Trade Commission to proceed with an antitrust lawsuit against Meta
Platforms (FB). After being rejected once, the FTC filed an amended
complaint in August 2021. The amended complaint includes more
details on the company’s monopoly power allegations. Also, it
provides evidence that Meta controlled prices, sacrificed the
quality of its offering to users and excluded competition by
driving actual or potential competitors out of business, such as
the acquisitions of WhatsApp and Instagram. “Facebook lacked the
business acumen and technical talent to survive the transition to
mobile.
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