The FTC is looking to receive a permanent injunction in federal court that “could, among other things: require divestiture of assets, including Instagram and WhatsApp; prohibit Facebook from imposing anticompetitive conditions on software developers; and require Facebook to seek prior notice and approval for future mergers and acquisitions.”
In the same statement, FTC’s bureau of competition director Ian Conner says, “Facebook’s actions to entrench and maintain its monopoly deny consumers the benefits of competition. Our aim is to roll back Facebook’s anticompetitive conduct and restore competition so that innovation and free competition can thrive.”The FTC began investigating Facebook in 2018 over consumer privacy concerns, but the social media company has been in the spotlight of the government for years now. Concerns over data privacy, its effects on the U.S. and other elections worldwide, and information safety have all put eyes on Facebook.
In response, Facebook’s vice president and general counsel Jennifer Newstead calls the suit “revisionist history.”“Antitrust laws exist to protect consumers and promote innovation, not to punish successful businesses. Instagram and WhatsApp became the incredible products they are today because Facebook invested billions of dollars, and years of innovation and expertise, to develop new features and better experiences for the millions who enjoy those products,” says Newstead.
Matt T.M. Kim is a reporter for IGN.Business - Latest - Google News
December 10, 2020 at 05:12AM
https://ift.tt/2IyLCiF
FTC Lawsuit Against Facebook Could Force Company to Sell Instagram, WhatsApp - IGN - IGN
Business - Latest - Google News
https://ift.tt/2Rx7A4Y
Bagikan Berita Ini
0 Response to "FTC Lawsuit Against Facebook Could Force Company to Sell Instagram, WhatsApp - IGN - IGN"
Post a Comment