Skip to content
More from
Bloomberg
Technology
relates to Dogecoin Rips in Meme-Fueled Frenzy as Biggest Cryptos Struggle
relates to Meituan Raises $10 Billion to Fight Alibaba in Grocery Arena relates to Tencent Dangles Billions in Aid As Antitrust Scrutiny Grows relates to Musk Says Autopilot Off in Texas Tesla Crash That Killed Two relates to IBM Shares Jump on Biggest Revenue Growth Since 2018 relates to Apple to Reinstate Parler; Google Offers Potential Return relates to Why Did Bitcoin Tumble and What Is the Outlook for Prices? relates to Senate to Call Spotify, Match at Apple, Google Antitrust Hearing relates to Trudeau Looks Beyond Near Term With Climate Stimulus relates to GameStop Rises After Setting CEO’s July Departure in Revamp relates to Dogecoin Rips in Meme-Fueled Frenzy as Biggest Cryptos Struggle
relates to Meituan Raises $10 Billion to Fight Alibaba in Grocery Arena relates to Tencent Dangles Billions in Aid As Antitrust Scrutiny Grows relates to Musk Says Autopilot Off in Texas Tesla Crash That Killed Two relates to IBM Shares Jump on Biggest Revenue Growth Since 2018 relates to Apple to Reinstate Parler; Google Offers Potential Return relates to Why Did Bitcoin Tumble and What Is the Outlook for Prices? relates to Senate to Call Spotify, Match at Apple, Google Antitrust Hearing relates to Trudeau Looks Beyond Near Term With Climate Stimulus relates to GameStop Rises After Setting CEO’s July Departure in Revamp relates to Dogecoin Rips in Meme-Fueled Frenzy as Biggest Cryptos Struggle
relates to Meituan Raises $10 Billion to Fight Alibaba in Grocery Arena relates to Tencent Dangles Billions in Aid As Antitrust Scrutiny Grows relates to Musk Says Autopilot Off in Texas Tesla Crash That Killed Two relates to IBM Shares Jump on Biggest Revenue Growth Since 2018 relates to Apple to Reinstate Parler; Google Offers Potential Return relates to Why Did Bitcoin Tumble and What Is the Outlook for Prices? relates to Senate to Call Spotify, Match at Apple, Google Antitrust Hearing relates to Trudeau Looks Beyond Near Term With Climate Stimulus relates to GameStop Rises After Setting CEO’s July Departure in Revamp
Technology

U.S. Fires Back at Facebook’s Move to Kill Monopoly Lawsuit

  • Company wants fight dismissed before it even begins, FTC says
  • Agency cites authority to challenge acquisitions ‘at any time’

The Federal Trade Commission urged the judge handling the agency’s antitrust lawsuit against Facebook Inc. to reject the social-media company’s request to dismiss it.

The suit initiated last year under the Trump administration makes a valid claim that Facebook holds monopoly power over personal social networking in the U.S. and maintains it by “acquiring competitive threats and deterring or hindering the emergence of rivals,” the FTC said in a filing late Wednesday in Washington federal court.

The FTC’s request is the latest exchange at the start of a high-stakes battle over Facebook’s future -- its attempt to hold onto Instagram and WhatsApp and to defeat the government’s attempt to force a breakup. The filing is a response to Facebook’s argument last month that the FTC is attempting a “do-over” by trying to unwind acquisitions that won regulatory approval years ago.

Did Big Tech Get Too Big? U.S. Crackdown Seeks Answer: QuickTake

The FTC argues that Facebook is trying to get the fight thrown out “before it even begins.” The company’s “repeated observation” that the agency could have challenged the Instagram and WhatsApp acquisitions earlier is irrelevant, according to the filing.

“Congress has explicitly provided that the FTC need not challenge an acquisition at its first opportunity to do so,” the FTC said in the filing. “Instead, the FTC can challenge an acquisition at any time, under any provision of law.”

New York Attorney General Letitia James is leading a similar antitrust lawsuit filed by U.S. states. In a filing opposing Facebook’s request for dismissal of that case, James argued that the company’s conduct harmed hundreds of millions of the states’ residents

The case is Federal Trade Commission v. Facebook, 20-cv-03590, U.S. District Court, District of Columbia (Washington).