FTC Files New Antitrust Complaint Against Facebook

Politico reports:

The Federal Trade Commission has filed a new antitrust complaint against Facebook, rebooting a high-stakes case to break up the social media giant after a federal judge tossed the agency’s original complaint in June.

Progressive FTC Chair Lina Khan joined with her two Democratic colleagues in a 3-2 party-line vote Wednesday to file the new complaint. The agency’s two Republicans — who both opposed the suit when it was first filed in December — voted against the new bid. The agency announced the vote and filed the new complaint Thursday.

The suit seeks to force Facebook to sell off Instagram and WhatsApp, in what would be the United States’ first court-ordered breakup of a company on antitrust grounds since AT&T in the early 1980s.

Read the full article.

FTC alleges Facebook resorted to illegal buy-or-bury scheme to crush competition after string of failed attempts to innovate: https://t.co/hX2wDoGEwL

— FTC (@FTC) August 19, 2021

BREAKING: U.S. Takes a New Stab at Facebook Antitrust Suit Seeking Break Up.

FTC Claims Facebook Tried To Maintain Monopoly Through Acquisitions and Blocking Competitors

Story developing….https://t.co/EhjllRqt9Z

— Cecilia Kang (@ceciliakang) August 19, 2021