FTC refiles its Antitrust case against Facebook
As reported from Reuters, in the 80 page new complaint, the U.S. Federal Trade Commission (FTC) accuses Facebook of illegally monopolizing power. The refiled case includes additional evidence which is intended to support FTC’s case that Facebook dominates the U.S. personal social networking market.
In the headline of its press release, FTC alleges the company resorted to “illegal buy-or-bury- scheme to crush competition after string of failed attempts to innovate”.
“Despite causing significant customer dissatisfaction, Facebook has enjoyed enormous profits for an extended period of time suggesting both that it has monopoly power and that its personal social networking rivals are not able to overcome entry barriers and challenge its dominance,”AMENDED complaint – federal trade COMMISSION
The FTC voted 3-2 to file the amended lawsuit. They also denied Facebook’s request that Lina Khan be recused, Khan participated in the filing of the new complaint.
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