FTC accuses Meta of withholding info during Instagram, WhatsApp acquisitions, suing for monopolization.
The US Federal Trade Commission (FTC) alleges that Meta Platforms Inc (formerly Facebook) withheld crucial information during reviews of its acquisitions of Instagram and WhatsApp. The FTC is suing Meta for monopolizing the personal social networking market by acquiring rivals. The FTC now has more evidence, including pre-acquisition documents from 2012 and 2014. Meta denies the allegations and argues that it fulfilled all legal obligations during the merger reviews.
June 05, 2024
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