You may have a company Facebook to sell WhatsApp and Instagram after that Lifted The US Federal Trade Commission and nearly every US state have filed lawsuits against the social media company, due to its competitor-killing strategy.
The complaints accuse Facebook of buying competitors, with a special focus on previous acquisitions of the photo-sharing app Instagram in 2012 and the messaging app WhatsApp in 2014.
Federal regulators said the acquisitions should be canceled, a move likely to raise a lengthy legal challenge as the US Federal Trade Commission approved the deals years ago.
I used Facebook, New York Attorney General Letitia James, on behalf of a coalition of 46 states. For nearly a decade its hegemony to crush smaller competitors and eliminate competition, at the expense of ordinary users.
Jennifer Newstead, a general counsel for Facebook, described the lawsuits as trying to reinterpret the historical narrative, and said: Antitrust laws do not exist to punish successful companies.
She added: WhatsApp and Instagram have succeeded after Facebook invested billions of dollars in developing applications, and the government now wants to try again to do what it failed to do last time. With send A warning to US companies that there is no final sale whatsoever.
Newstead also raised doubts about the alleged damages, arguing that consumers had benefited from the decision to make WhatsApp free, and that competitors, such as YouTube and Twitter, had achieved good results without access to its developer platform.
CEO Mark Zuckerberg told employees that he does not expect any impact on individual teams or positions as a result of the lawsuits, which he said: It is one step in a process that could take years to complete.
Zuckerberg told employees in July that Facebook was ready to deal with the legal challenge to dismantle it, describing it as an existential threat.
Although attempts at dismantling are rare, some antitrust experts have said: The issue is very strong, given Zuckerberg’s earlier statements, such as saying in 2008 via email: Better to buy than to compete.
Other experts said: The FTC’s lawsuit is much weaker than the Justice Department’s lawsuit against Google, and we’re talking about Acquisitions are six or eight years old and it is difficult for a court to order a breakup of investments.