Facebook asks court to dismiss FTC antitrust complaint

I show You how To Make Huge Profits In A Short Time With Cryptos!

Facebook is asking a federal court to dismiss a revised complaint against it by the Federal Trade Commission

Facebook is asking a federal court to dismiss a revised complaint against it by the Federal Trade Commission, arguing that the agency has not provided enough evidence to show that the company is a monopoly.

A federal judge in June dismissed earlier antitrust lawsuits brought against Facebook by the agency and a broad coalition of state attorneys general that were among multiplying efforts by federal and state regulators to rein in tech titans’ market power.

The FTC’s new, revised complaint filed in August alleges that the social network giant pursued a laser-focused strategy to “buy or bury” rivals to suppress competition.

U.S. District Judge James Boasberg had ruled in June that the FTC’s original lawsuit was “legally insufficient” and didn’t provide enough evidence to prove Facebook was a monopoly. He dismissed the states’ separate complaint outright.

But his ruling only dismissed the FTC’s complaint, not the case, giving the agency a chance to file a revised complaint. In the new filing, the FTC laid out a detailed analysis to substantiate its monopoly power claim.

“Direct evidence, including historical events and market realities” confirms the allegation, the complaint says. The harm to consumers from the lack of competition “is particularly severe,” it says.

The FTC did not have a comment on Facebook’s motion to dismiss.

———

Associated Press Writer Marcy Gordon in Washington contributed to this story.

Be the first to comment

Leave a Reply

Your email address will not be published.


*