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48 States, FTC Unveil Anti-Trust Push to Break up Facebook

By Tyler Durden | 9 December 2020

ZERO HEDGE — Facebook shares are extending their losses today as US antitrust officials and a coalition of a states sued the social media company for allegedly abusing its dominance to crush competition.

The Federal Trade Commission and state attorneys general led by New York filed an antitrust complaint against Facebook Wednesday, alleging a litany of actions to thwart rivals and protect its monopoly. The lawsuit also sought a permanent injunction to the unwinding of the Instagram and WhatsApp acquisitions.

The complaint was filed after a lengthy investigation in cooperation with a coalition of attorneys general of 46 states, the District of Columbia, and Guam.

New York Attorney General Letitia James today filed a lawsuit against Facebook Inc., alleging that the company has and continues today to illegally stifle competition to protect its monopoly power. […]

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