Federal Trade Commission, 48 states target Facebook’s ‘monopoly’

(NBC News) The Federal Trade Commission and 48 state attorneys general have filed anti-trust lawsuits against Facebook, accusing the tech giant of illegally stifling competition.

“For nearly a decade Facebook has used its dominance and monopoly power to crush smaller rivals and snuff out competition…to the detriment of consumers,” New York Attorney General Letitia James said when announcing the suit.

The lawsuits argue the company used its vast resources to buy potential competitors like Instagram and What’s App, and suffocated other rivals.

The federal suit calls for What’s App and Instagram to be separated from Facebook.

Facebook responded with a tweet stating “Years after the FTC cleared our acquisitions, the government now wants a do-over with no regard for the impact that precedent would have on the broader business community or the people who choose our products every day.”

Read more: https://nbcnews.to/3m6O65m

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