Sunday, April 14, 2024

Court rejects FTC’s complaint about Facebook monopoly

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Any additional actions will be led by the new FTC chairman, Lina Khan, An outspoken critic of large technology companies, first became famous when she believed that antitrust laws focused on pricing were not enough to check Amazon’s power.

However, despite another attempt by the FTC in the case, the judge dismissed another lawsuit filed by 48 states against Facebook’s acquisition of Instagram and WhatsApp, saying they waited too long to file a lawsuit. He did point out that the FTC does not have this timing issue and it can choose to investigate any merger whenever it thinks there is a reason.

Facebook and its investors called this decision a victory. After making this decision, the company’s stock price rose 4.2%, and its market value exceeded $1 trillion for the first time in its history.

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