Facebook Sued by FTC and 48 State Attorneys General in Twin Lawsuits

Facebook Sued by FTC and 48 State Attorneys General in Twin Lawsuits .

On Wednesday, a coalition of 48 state attorneys general came forward to launch a lawsuit against Facebook.

Led by New York Attorney General Letitia James, the group alleges that Facebook has been stifling competition to protect its “monopoly power.” .

For nearly a decade, Facebook has used its dominance and monopoly power to crush smaller rivals and snuff out competition, all at the expense of everyday users, Letitia James, via ABC News.

James also said Facebook has used its suppression of competition to “take advantage of users” and “make millions” by selling personal data.

The Federal Trade Commission (FTC) also launched their own lawsuit against Facebook on Wednesday.

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The separate lawsuit alleges that Facebook has maintained its “monopoly” through the illegal use of anticompetitive practices.

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Our aim is to roll back Facebook’s anticompetitive conduct and restore competition so that innovation and free competition can thrive, Ian Conner, director of FTC’s Bureau of Competition, via ABC News.

The FTC’s lawsuit names Facebook’s acquisition of Instagram and WhatsApp as examples of unfairly wielding its monopoly power.

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Facebook Vice President and General Counsel Jennifer Newstead has since responded, saying antitrust laws don’t exist 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, Jennifer Newstead, via ABC News.

She also accused the government of wanting a “do-over,” as they initially cleared the acquisitions years ago.