The Federal Trade Commission on Thursday filed an amended complaint against Facebook in a reboot of an earlier lawsuit charging the world’s largest social media platform of using anti-competi…
’s contention that “Facebook is a monopolist that abused its excessive market power to eliminate threats to its dominance” by employing a buy-or-bury scheme against rival companies “when their popularity became an existential threat.”“Facebook lacked the business acumen and technical talent to survive the transition to mobile.
The social media giant “supplemented this anticompetitive acquisition strategy with anticompetitive conditional dealing policies, designed to erect or maintain entry barriers and to neutralize perceived competitive threats,” according to the complaint.
“The FTC’s claims are an effort to rewrite antitrust laws and upend settled expectations of merger review, declaring to the business community that no sale is ever final. We fight to win people’s time and attention every day, and we will continue vigorously defending our company.”
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