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Up to 40 states plan to sue Facebook for antitrust next week - CNBC
- A coalition of 40 U.S. states that have been investigating Facebook
(NASDAQ:FB) for potential antitrust violations have plans to file a
lawsuit against the social network next week, CNBC says.
- That would mark the second major antitrust lawsuit against Big Tech
this year, after the Justice Dept. sued Google (GOOG, GOOGL) in October.
- The states, led by New York, could be joined by a related complaint
from the Federal Trade Commission, according to the report.
- And while the exact nature of the complaint isn't known, a common
allegation is against Facebook's tendency to muscle into acquisitions of
potential rivals using spending power and a big premium (see WhatsApp and
Instagram).
- After hours: FB-0.4%.
|Today, 7:29 PM|53 Comments
Up to 40 states plan to sue Facebook for antitrust next week - CNBC
- A coalition of 40 U.S. states that have been investigating Facebook
(NASDAQ:FB) for potential antitrust violations have plans to file a
lawsuit against the social network next week, CNBC says.
- That would mark the second major antitrust lawsuit against Big Tech
this year, after the Justice Dept. sued Google (GOOG, GOOGL) in October.
- The states, led by New York, could be joined by a related complaint
from the Federal Trade Commission, according to the report.
- And while the exact nature of the complaint isn't known, a common
allegation is against Facebook's tendency to muscle into acquisitions of
potential rivals using spending power and a big premium (see WhatsApp and
Instagram).
- After hours: FB-0.4%.
|Today, 7:29 PM|53 Comments
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